Sunday, October 23, 2011
Newspapers and time perspective on investing
"Trying to determine what is going on in the world by reading the newspapers is like trying to tell the time by watching the second hand of a clock" - Ben Hecht
You cannot gain perspective from reading newspapers. You can only gain perspective through developing a framework and placing daily events within the framework or theory. The daily banging of the drum concerning the greek debt fiasco provides new information every day but there is limited perspective of what this means for investing or the risks in the European political structure. For that you need time and theory.