Investors are constantly bombarded by what can only be described as noise about investment markets. Today, more than ever there's a continuous crush of headlines and Twitter feeds, as well as television and radio programs, that collectively provide ceaseless hype, misinformation and biased views.
The market gyrates constantly on headlines and sound bites, but you should pay them little heed. Trading on day-to-day news can be dangerous to your financial health, especially if your long-term goal is wealth accumulation. Failing to filter out this media noise can make you a slave to it.
Instead, determine in advance what you're going to listen to-and from whom. Those you definitely should ignore include self-appointed financial gurus who commonly appear on television and radio programs and in articles. You've doubtless heard the saying, "Beware of strangers bearing gifts." Well, you should also beware of gurus with crystal balls bearing predictions.