Focus on the long-term - forget the news

Trying to deterrmine what is going on in the world by reading newspapers is like trying to tell the time by watching the second hand of a clock.  - Ben Hecht

You cannot help it. Most investors are ffected by the news. If there is good news, you want to immediately go out and be a buyers. If there is bad news, you want to be an immediate seller. Unfortunately, the flow of news is not linear. There will be noise in the information that is reported. News will be subject to revision. It will need to be clarified.

The idea of market efficiency has us focus on immediacy but there is a greater need for a longer term clarity. News must be filtered and placed in the context of a framework or model. Ben Hecht was a newspaperman and if he has problems with the news, you should too.