The media - always optimistic?

[Nyden]

I've been noticing every time the market has a bad day; there is always news updates on TV - with analysts from CMC, CommSec ... etc; and they all seem to say the exact same thing. Don't panic, don't sell, we're in a better situation than the US ...well, you get the picture.

I would just like to ask; are all analysts this optimistic? Or is it only those that are televised? 10 months ago, had a TV analyst said "Panic! Sell everything you've got now and put it in the bank" - how better off would people be?

Just seems silly; how low do we need to go before some of these clowns suggest hedging, or reducing ones holdings?

 

[IFocus]

The media is a product / business..........people don't buy negative products

But there is a market for horror movies

 

[Spanning Tree]

Fund managers especially wouldn't want you to sell otherwise they can't collect fees from your money.

 

[Temjin]

Media's clients = fund managers

enough said.

Ok, not enough.

It's not in their interest to exaggerate gloom and doom as there may be legal issues if it caused enough damage and get sued by pretty much everyone for their "undesirable" reporting.

One will never get unbiased information from the mainstream media. Read them with a skeptical mind.

 

[xoa]

The media (and I don't mean Koch) has a veneer of impartiality, but the "experts" they bring in are permanently bullish.

Commsec's analysts are particularly bad. I think it's because they get most of their revenue from day traders.

(I also dislike when the media gives an audience to bitter "mum and pop" investors. They always have an inflated sense of entitlement and blame everybody except themselves for their poor decisions. If you want a risk free investment get a term deposit!)

 

[awg]

I just saw the umpteenth knob-jockey on TV saying "hold on, dont crystalize your losses".

They should just say, " I dont know"

or at least "this is what I did today"

 

[2BAD4U]

The funny thing is I was actually more worried a year ago about the economy than I am now and so were the economists. Back then this was when the media was telling us how you could own 20 houses by the time you were 21. Borrow more money and become an overnight property tycoon. This on TT and ACA every night was not good but I do remember the economists saying then that the writing was on the wall for tough times, it's just that the media didn't give them much attention.

Now it's all chicken little stuff from the media.

I say don't blame the economists, blame the media because they will only show the story that creates the biggest headline.

 

[agro]

I've been noticing every time the market has a bad day; there is always news updates on TV - with analysts from CMC, CommSec ... etc; and they all seem to say the exact same thing. Don't panic, don't sell, we're in a better situation than the US ...well, you get the picture.

I would just like to ask; are all analysts this optimistic? Or is it only those that are televised? 10 months ago, had a TV analyst said "Panic! Sell everything you've got now and put it in the bank" - how better off would people be?

Just seems silly; how low do we need to go before some of these clowns suggest hedging, or reducing ones holdings?

isn't that the words of wayne swann/k rudd?

 

[Aussiejeff]

isn't that the words of wayne swann/k rudd?

Relax, grasshoppers....

All is well.........

Tonight, the US media reports "speculators" are betting that the "package" in Congress will pass and DOW futures are soaring as I type.

Actually, I loathe the un-bridled optimism of these faceless mega-wealthy "speculators" - the merchants of instability.

 

[Nyden]

isn't that the words of wayne swann/k rudd?

Sure is. Heck, even our pollies spout this nonsense off.

 

[nioka]

One will never get unbiased information from the mainstream media. Read them with a skeptical mind.

And bear in mind that most of the opinions expressed on ASF can be just as biased if not more biased than those of the media. Just as we are all good drivers on the road and everyone else is not as good you will find plenty of the same attitude here as regards investment. DYOR. (and when you have think twice before you act.)

 

[agro]

Relax, grasshoppers....

All is well.........

Tonight, the US media reports "speculators" are betting that the "package" in Congress will pass and DOW futures are soaring as I type.

Actually, I loathe the un-bridled optimism of these faceless mega-wealthy "speculators" - the merchants of instability.

whoever bought today would be rubbing their hands

 

[snapperhunter]

Ahh, you've got to love those "Speculators".

They are surprisingly accurate, detailed and informative...after the event!!!

I just wish I could look after my own super, my fund managers are performing especially poorly. I believe that even a BUM like me could do better than them.
Disgraceful! But that's another story.

 

[Julia]

Ahh, you've got to love those "Speculators".

They are surprisingly accurate, detailed and informative...after the event!!!

I just wish I could look after my own super, my fund managers are performing especially poorly. I believe that even a BUM like me could do better than them.
Disgraceful! But that's another story.

Don't complain about it. Start your own SMSF.

 

[Trembling Hand]

Ahh, you've got to love those "Speculators".

They are surprisingly accurate, detailed and informative...after the event!!!

I just wish I could look after my own super, my fund managers are performing especially poorly. I believe that even a BUM like me could do better than them.
Disgraceful! But that's another story.

I'm not so sure about that. Everyone has the option of directing their super managers to shift their funds to defensive/cash etc. How many have?

 

[Julia]

I'm not so sure about that. Everyone has the option of directing their super managers to shift their funds to defensive/cash etc. How many have?

Good comment. Much easier to avoid responsibility and just blame the Fund Managers.
It's a little like some American erstwhile home owners facing foreclosure featured on the 7.30 Report this evening. They were railing against the big bad mortgage providers. Well, yes, they were irresponsible. But didn't the home owners have at least an equal responsibility to do the sums to ensure they could meet the repayments, fergawdsake!!
So easy to be a victim.

 

[Trembling Hand]

Good comment. Much easier to avoid responsibility and just blame the Fund Managers.
It's a little like some American erstwhile home owners facing foreclosure featured on the 7.30 Report this evening. They were railing against the big bad mortgage providers. Well, yes, they were irresponsible. But didn't the home owners have at least an equal responsibility to do the sums to ensure they could meet the repayments, fergawdsake!!
So easy to be a victim.

Yeah I was watching that as well. My partner had to turn off the TV and get me another glass of red because I was getting a little worked up pointing out the same.

 

[Smurf1976]

I'm not so sure about that. Everyone has the option of directing their super managers to shift their funds to defensive/cash etc. How many have?

My super is 100% in cash at the moment but I take your point - most don't pay any real attention to financial matters.

As for the media, they can't even do simple math with non-finanical subjects and get it right so no way am I trusting them with money.

It's amazing how many times I've read a press release and then seen a cut down version, with errors, in the mainstream papers the next day. They can't even do a cut and paste without messing it up!