Flight #24: The Dangers of Headline Investing

Over the years, Charlie has tracked and compiled financial news headlines that made bold predictions. Looking back on them is comical - only in hindsight - the predictions were ridiculous. However, at the time of the articles were published, these headlines were straight-up scary.   In this podcast we are talking: How do people get their news - specifically financial news? CNBC, FoxBusiness, Twitter? What are the biases? What about the Confirmation Bias? How can this biased information be a detriment to your financial plan - hint: fear, emotions, etc. How do news algorithms work? They feed you what you want to hear. What are the results of the prognosticators - 50-50...basically a coin flip. What does the research show? What do the prognosticators have to lose by making bombastic predictions? Nothing. Are they help accountable? What do you have to lose by listening to and taking action on their predictions? Everything! There will be a correction this year! We average -13.8% downturn every year! Thank you for listening! If you have any topics or information you'd like us to talk about please send your idea to [email protected]. Y'all take care now! The Pilot Money Guys