Financial Media Gurus

There are a number of reasons why I don’t place too much trust in opinions of most financial media gurus.

Very often they copy others; their ideas and facts may well be stale and overused. As well as biased, which can be attributed to their slants that may owe to contrived commercial implications of the advice.

Remember, pundits have gone to the same schools and colleges and gotten the same education, including the same business courses, with similar resultant MBAs. It can be an incestuous field.

Moreover, much of their suggestions come from sales efforts to sell particular products or services. This provides an illusion of punditry.

Examples include gold or commodity purchases as cure-alls for future inflation.

One-sided views of any investment strategy takes on an aura of truth if repeated often enough.

Also, media pundits tend to look over each other’s shoulders, so they do not stand out too much if they are wrong, or so they do not offend their editors.

Then there is the use of public relations release placements, because they are easier than original writing. In-depth articles often are practically written for many reporters and analysts. ( See the Earl J Weinreb NewsHole® comments.)