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Grab The Remote...Turn Off The Business Channel

Here’s a skill every investor needs.  When I say investor, I’m being exclusionary.  This doesn’t apply to traders or speculators.  This applies to long-term investors, the Warren Buffett-esque investor, the typical American investor who socks a little away every paycheck into their 401k or Roth IRA.

Here’s the skill.  Yeah, the remote.  As much as I enjoy Stuart Varney’s take on American capitalism delivered in a dulcet British accent, I don’t need to know about every so-called breaking news item to be a successful investor.

So when the crisis du jour appears, and it causes the slightest twinge of anxiety, I change the channel.  Come on…TennisChannel.  Much more relaxing to watch the long rallies on red clay than the red and green arrows scrolling by onscreen.

Your TennisChannel might be HGTV, History, or even one of the many music channels most providers offer.  I’m partial to the classical music lineup.

See…the business channels, much like most financial media, want you to watch and react, attempting to make you think you need to do something everyday with your investments.  If you believe that, you’ll watch more and likely react more, causing you to watch more.  

More viewers means higher ad revenue for them.  So they keep feeding you the panic inducing headlines.  You’ve been lured into their trap.

If you change the channel, you won’t fall for the ploy.  You won’t let your heart overrule your head and you won’t pull the “Reverse Grandpa”. That’s selling low and buying high, just the opposite of what Grandpa said to do.  Even Stuart Varney could concur with that.