Author Topic: Where to get financial news?  (Read 6139 times)

velocistar237

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Where to get financial news?
« on: March 06, 2012, 12:27:21 PM »
I saw this article today. There are lots of articles about this topic on the www.

Bad News for Boomers, WSJ, by Karen Damato, March 5, 2012
TL;DR: The author interviews a portfolio manager about the Baby Boomers' retirement. He says that they will sell lots of stock, driving the US stock market down, and they will buy lots of stuff, increasing inflation. You can weather this by investing in markets that the boomers have not, like emerging market stocks and bonds, which, by the way, you can do by buying his fund.

I've seen this argument before, but I was curious whether it was based on anything substantial. I found this 2006 GAO report, and I thought I'd share it.

BABY BOOM GENERATION, Retirement of Baby Boomers Is Unlikely to Precipitate Dramatic Decline in Market Returns, but Broader Risks Threaten Retirement Security
TL;DR: It was too long; so I didn't read it. I did skim it, and the broader risks mentioned in the title have to do with the increased need for personal financial literacy, given the fact that defined benefit plans have disappeared, and with potentially decreasing coverage from Social Security and Medicare. The demographic shift was not expected to affect the market very much.

The difference just goes to show that some (most?) financial news is just hype designed to get your attention and sell you something. What sources of financial information do you trust, and why do you trust them?

vwDavid

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Re: Where to get financial news?
« Reply #1 on: March 06, 2012, 01:04:53 PM »
Subscribed for the ensuing convo, but I think the MMM way is not to read financial news but once per week and to not worry about market timing....


arebelspy

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Re: Where to get financial news?
« Reply #2 on: March 06, 2012, 01:37:56 PM »
I agree with vwDavid.

News these days is mainly trying to sell you something or scare you to grab eyeballs.

Regarding the article in the OP, I constantly see how the boomers can't retire due to lack of funds. They average barely six figures invested. So how will they tank the market? 

You hear conflicting things based on what they want to sell you that day. Ignore most of it, IMO.

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foodguy

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Re: Where to get financial news?
« Reply #3 on: March 06, 2012, 05:07:26 PM »
Think of it this way.  Most companies that own news outlets are for-profit.  The only way they succeed at business is by selling product (news to you) or selling ads (to companies) which they then must deliver to you (via "news").  Like the previous posters are saying, there is an obvious motivation for some serious bias.  The news company either has to get you to buy the news product to deliver the ads, or they have to feed you what you want to hear so that you'll read their articles.

With that said, I currently subscribe to WSJ for most national and international information, but a vast majority of that can be found online in one way or another.  There is a local paper that I subscribe to for community news.  I tend not to bother with regional news as the local publications have such a political bias and agenda that they don't bother to hide it.

For financial news, especially personal finance, I find there is a total lacking of information on this subject sans bloggers with personal ideas.  Some are good, some are bad.  I'll probably pick up a subscription to Money magazine and just keep my eyes open for books on the subject.

Anyone else have any ideas?

arebelspy

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We are two former teachers who accumulated a bunch of real estate, retired at 29, and now travel the world full time with two kids.
If you want to know more about me, or how we did that, or see lots of pictures, this Business Insider profile tells our story pretty well.
We (rarely) blog at AdventuringAlong.com. Check out our Now page to see what we're up to currently.

Mr Mark

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Re: Where to get financial news?
« Reply #5 on: March 06, 2012, 08:32:25 PM »

My Financial news is, the news. I read/watch stuff all the time - the Economist, NYT, CNN. Also like some stuff on Motley Fool just for understanding technical stuff mainly.

But fully agree with the above - experts are generally wrong, and they are all trying to sell you stuff: 'variable annuities', 'interest only' mortgages, 'free' credit cards, 0% down, etc etc.

If you want to save for the 15yr timeframe,  for now focus on saving, repaying debt, and put money gradually into the S&P500 index via a low fee (0.2% or less!) Mutual Fund. Do not really act on day to day news too much.

AdrianM

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Re: Where to get financial news?
« Reply #6 on: March 07, 2012, 12:31:48 AM »
These are sources I like to get Investment News from.

http://www.financialsense.com/
http://www.safehaven.com/
http://www.dailyreckoning.com.au/


Enjoy
AdrianM

Mike Key

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Re: Where to get financial news?
« Reply #7 on: March 07, 2012, 07:47:08 AM »
You can believe everything you see on CNN :^)

Mr Mark

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Re: Where to get financial news?
« Reply #8 on: March 07, 2012, 08:21:45 AM »
You can believe everything you see on CNN :^)

Nice one.

I do try to avoid anything from New Corp: Fox, WSJ, et al

arebelspy

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Re: Where to get financial news?
« Reply #9 on: March 07, 2012, 08:22:21 AM »
YEAH!

Listen to THIS GUY

   
We are two former teachers who accumulated a bunch of real estate, retired at 29, and now travel the world full time with two kids.
If you want to know more about me, or how we did that, or see lots of pictures, this Business Insider profile tells our story pretty well.
We (rarely) blog at AdventuringAlong.com. Check out our Now page to see what we're up to currently.

velocistar237

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Re: Where to get financial news?
« Reply #10 on: March 07, 2012, 09:29:20 AM »
Apparently, ignorance is bliss, and trust no one.

I do subscribe to the Economist's weekly politics and business digest. Rebel Spy's linked thread also suggested NPR's Planet Money. I will check out the other links when I get a chance. Thanks.

Mike Key

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Re: Where to get financial news?
« Reply #11 on: March 07, 2012, 11:55:16 AM »
Jim Crammer is a HERO!

Mr Mark

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Re: Where to get financial news?
« Reply #12 on: March 07, 2012, 01:33:23 PM »
Jim Crammer is a HERO!

You've gotta admire his enthusiasm.

dahlink

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Re: Where to get financial news?
« Reply #13 on: March 08, 2012, 08:38:18 PM »
I was at a financial class the other day (6th) where they were promoting the cost averaging investment strategy.  (I am not sold on it but do think there is something there.)  An interesting thing that the instructor said had said is that he read all the magazines and watched all the TV money shows.  Not because he wanted the financial news, but so he would know what kind of questions he would get from his customers that day.

Fun/scary video of cramer http://www.youtube.com/watch?v=c6gxPCurDJs

Mr Mark

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Re: Where to get financial news?
« Reply #14 on: March 08, 2012, 09:29:36 PM »

Like your video! Scary.


It's about balance. Eggs & Baskets.

Long-term cost averaging in index funds, etc. Awesome. This is where maybe your core stash savings goes. Don't let the snake oil salesmen put you off the stockmarkets and bond markets.

But, if you see a great foreclosure deal in a 'surprisingly good' location, that you know is just superficially beat around and is a great fixer/sweat equity/rental opportunity. Great! Even with a bit of leverage. Or a local business that needs an angel investor? Tick!

A % of your stash should allow you to follow your business MMM instincts - but only in the real world.

Diversification. Entrepreneurialism. Yes.

Speculation/gambling/lumps of shiny metal? Yes! But only for a tiny % of your stash, and mainly for entertainment purposes!