Fake news has been touted recently as a big problem as we receive more of our information from online sources. Frankly, I don’t think I’ve been too duped by these sites. I can recognize an Onion from a Washington Post easy enough. What I find distracting and tiresome is more the tone of even legitimate news outlets. And I include the opinions of people I know whether in my immediate circles or further removed. I like my information to be dispassionate to the point that it presents both sides without the drama or emotion. Yet it is still engaging enough to read or listen to with interest.
For that reason, my favorite news source is Bloomberg News. Now, I know you might think, well I’m not really interested in stock market numbers, quarterly earnings reports or the price of West Texas Crude. But you may be surprised about how little you have to listen to that. The news stories, interviews and discussions are centered on the economic aspects of politics, business, law, science and even sports and entertainment. But the technical analysis is easy enough to filter out if you choose. You can still be left with great well balanced, unbiased information.
So now you can ask, what’s with the picture of your dog? Well, in trying to figure out why a finance and economy news outlet would be such a good source for news, I thought about my boxer, Woodie. He seems to interact with other dogs in a certain way. When he goes to the dog park, he has a good time even though he is confronted with quite a diverse group of other personalities. I’ve noticed when he meets another dog, it’s as though he is saying, “Howdy! I can play or fight. Doesn’t matter to me. Just let me know what your preference is.” And he usually is perfectly prepared to answer in kind to whatever response he gets.
Likewise I feel like investors or economic wonks approach issues in society it is not so much to level it with their own predisposed notions. Rather it is to see how it affects the economy. Kind of like, “Howdy! I’m not judging your issue to be good or bad. I just need to know about it so I will know how to invest.” I’ve often heard it said that the market can deal with a change that happens better than with the uncertainty of whether it will.
To me, there is noticeably more calm and level reporting on Bloomberg News. That’s not to say you won’t hear heart-felt opinions or robust debate. But their guests behave with more civility and give and take in interviews or discussions than I see or hear elsewhere in news outlets or social media. I think it is because investors want to know both sides more than other individuals. Their wealth is depending on it.