The last-minute market drop probably reminds you of how little influence you have over what happens in your investments. The less you’re willing to act, the harder it is to act.
Of course, that’s not a bad thing. We might even benefit from a life of irresponsibility. A life in which no one cared if I executed this trade or that one, and didn’t care a whit if my stock dropped 20% on a single trading day. Indeed, we might be better off with those conditions if they reflected a willingness to not worry about all those consequences that cause so much economic anxiety.
But even though I’m not much of a trader myself, I did go online last week, and I did try to beat the market — at least partly on the strength of heavily biased research. But I’m also not sure I know enough about my markets to claim credit for any particular trades. Nor did I think I was making them, just doing market analysis.
Still, it was nice to go back to an old-fashioned strategy of focusing on news, including investing in those linked analysis stories that give us a whole wide range of interesting information about the markets. The trouble is that just as was true in the old days, it’s all hard to find.
Of course, the more news we read, the better we feel about ourselves. But of course, in the real world, it does not actually help to know that something else was happening.
The smartest strategy, then, is to concentrate on what you like. Which, in our world, is a particularly old-fashioned strategy. And certainly, if we want links or the kind of deep, ongoing information that blogs are known for, a subscription is the way to go.
So, I clicked on one of those New York Times-backed blogs, which is already one of the favourites of your bosses and closest friends, and I found a post on the results of one of the surveys that had been a topic of concern for some more or less regular readers of this column.
Hmmm. The first thing that jumped out at me was a fascinating chart, titled “These Five Factors Explain How U.S. Stocks Go Up And Down,” showing stock prices in the U.S. over the long haul. Those are the same key factors listed for different countries (with special emphasis on the U.S.), with some diversification thrown in here and there.
So sure enough, all of those factors, as a matter of domestic U.S. market performance, seem to be self-sustaining. More or less all of them. So, at any rate, even without going beyond my armchair analysis, I could connect with the content.
As for other stories, and other quality analysts, I tend to turn to Economist.com, the voice of the journal, and my favourite among the distinguished English tabloids that are a refuge from academic arise. But I rarely listen to their radio or television broadcasts, which tend to be emotional and political, and end up skipping those shows and instead of reading the online version. Same with Netflix and Amazon, but mostly I still get the news there, too. If you want an auto-reply, subscribe to the RSS version of these sites.
Those are a few of the ways to get smart. Maybe you prefer those other ways, and thus buy or sell stocks based on those qualities. Or maybe that’s not what you like. But whatever it is, or isn’t, you’ll eventually have a pretty good idea of where the market is going, along with its key drivers and potential losers. In that sense, sometimes, even if it’s a just a psychological comparison.
And if you ever want to plan your own trading moves, you can search for those variables, too. It’s a bargain for readers and a bargain for data. And having that kind of real-time, low-cost index can give you a fighting chance against the professionals.
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