Important observations from Doug Kass about FinTV:
“By and large, the media have an agenda that is different from yours. It doesn’t make them bad guys — their objectives of a growing audience and higher ratings are inherently dissimilar to your objective of making money.
Moreover, as I have recently chronicled, the media’s reaction to events of the day (e.g., the sovereign debt crisis, the Presidential election, the fiscal cliff, etc.) is often hyperbolic and simply wrong-footed (from an investment standpoint).
Always remember that they are in the press box, and you are on the playing field.”
Too many investors forget this.
It is worthwhile reminder of the Price of Paying Attention.