One of the best things I have done in recent weeks has been to stop watching and listening to the news on the mainstream TV channels and radio stations. This is because a lot of what is on there is of no use to me whatsoever. Instead, I confine myself to reading newspapers and other publications where I can just concentrate on what I want and need to. I think this is a great approach to investing too.
Reading company results, annual reports and the quality bits of the investment media you can form your own views and develop your abilities as an independent thinker, which I think is so vital for long-term learning and investment success.
This week we will see the fawning of politicians, big business and lobbyists at the Swiss ski resort of Davos. You will learn little or nothing from listening to these people, many of whom caused the problems the world economy has faced over the last decade; failed to spot them or profited from the attempts to clear them up.
It’s never been more important to tune out from the noise. This is for our personal well being as well as the health of our investments. I remain firmly convinced that those investors who read company annual reports and the RNS statements from the stock exchange will develop their own tailored process and mindset that will serve them well in the years ahead.
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