The more I look at the so called financial experts on the news channels, the more I am convinced that we are in a world that is not neutral or independent in the views of the market. The experts are extreme in their views, the day the market goes up by a few points, bulls take center stage on all shows and talk about market going up by absurd percentage points. On the day the markets fall by few points, they run to the other extreme and act like bears.
This extreme posturing comes from various biases or sheer lack of knowledge – I do not know, but the results have been bad for the naïve consumer. News was supposed to state the facts, it no longer does that, it now panders to the preposterous egos of so called know all experts who just ignore/ don’t know the fundamentals of trade and economics
We the consumers/investors should normally be hardwired to follow the course nature provides; i.e there is a natural way for everything to progress. Do we expect our trees to grow overnight and bear us flowers and fruits? Or do we expect our children to start grow up in 5 years instead of 16 years? When we try to follow the rules of nature in everything we do, why don’t we look at the same growth model when it comes to finance?
Gorden Geko’s anthem of “greed is good” got too far. Greed is good but now everyone, especially not for tax payers; because eventually you end up paying the bills. Constant misinformation, brouhaha about how people made 100% return in a couple of months, bad government policies has made us mercenary profiteers, who are out to make money overnight. We have lost our edge and no longer protest the mediocre content being fed to us.
The irony of the market disaster in the last two years is that these experts have not mended their ways. They still continue to provide advice, where they do not have to give a reason for why they think their prediction is right, or why their predictions change overnight. By reason I mean common sense talk rather than some gibberish that makes them sound smart.
Today morning headlines in one of the leading channels compelled AY to come out and put its thoughts out on this matter. We think that, India needs a source of news that will state facts and lets us, the consumer, to from our opinions instead of rubbing in their opinions onto us.