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Et Tu, Financial Media?

| Opinion | July 15, 2017

I’ve been spending a lot of time focusing on my portfolio and the greater investing environment lately. Some say that it’s a bull market, some say that it’s a bear market rally, but whoever is correct it is a good time to make some money if you’re paying attention.

Although I’m normally pretty cheap (a product of being raised by multiple generations of military men who literally bled for their money), financial advice is one place that I don’t skimp. I buy advice from several pay-to-play analysts, but also subscribe to the Wall Street Journal (only because I get a student discount while working on my MBA) and read that along with Yahoo Finance every morning before the market opens.

I also listen to NPR on the way to the gym, as I am what is called a macro investor; I take in information from all sectors around the globe to help me form my perspective about where the market is going, and what ripples throughout the world will have certain effects on investments that I can capitalize on. Long story short, I spend a lot of time with my nose in all sorts of financial news outlets.

What has really surprised me is that, even though you would imagine their demographic to skew much more conservative (as we love and work hard for our money, while Democrats only see it as a tool of the oppressor), the financial media is just as anti-Trump as the rest of them. And I have to say that I’ve really enjoyed watching them put their feet in their mouth on a pretty constant basis.

Unlike the rest of them, the financial media (pre-Trump) strayed away from the “race to be first” in the reporting game. Pre-Trump, they seemed to understand that when people use your advice to invest their life savings, you should probably focus more on being right than being first.

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But post-Trump, they have abandoned that philosophy and decided that the moment any negative news comes out regarding Trump that can be correlated with a drop in the market, no matter how loosely, they have to jump on it. And if you’ve paid much attention to the markets since his election, you know they’ve been wrong every time so far. Every single time.

It’s to the point now where I’ve begun counting down the minutes until they have to print a retraction, as it always has to come within the same day. I get alerts to my phone from both the Wall Street Journal and Yahoo Finance, and an example alert from this week was “stocks fall after Trump Jr. release of Russia emails regarding Clinton info.” Of course, the headline by the end of the day was “stocks rebound after Trump Jr. emails,” as the market ended up in a rally at the end of the day.

On Wednesday, Yahoo Finance had an article titled “They voted for Trump and regret it.” Guess what, Yahoo Finance? I regret that I came to your site looking for financial information and found this. It’s no wonder your company went up for fire sale if you can’t even remember which page you’re publishing content for.

The market is its own living, breathing organism that has been scrutinized by some of the smartest people on the planet since its inception. While politics do have effects on the market, this rush to blame any drop on Trump is not only ridiculous, but also showing just how hard the media, in all its forms, is still trying to tie anything negative to him that it can.

Trading and investing are about numbers and metrics, not emotions. As Warren Buffett says, “You may have emotions about a stock, but the stock has zero feelings for you.” Stop trying to bring your bias and anti-Trump whining into finance.

The people who voted for and support Trump are those who worked for and care about their money, and he’s doing a bang-up job taking care of our money so far by reducing government and a stock market that’s off the charts. Leave the anti-Trump guesses and ramblings to the op-ed pages where they belong, not in the finance section.

**The Views and Opinions expressed in these columns are those of the writer, not necessarily those of Valley Publications/Santa Clarita Gazette.**

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About Robert Patrick Lewis

Robert Patrick Lewis is a former Green Beret combat veteran of Iraq, Afghanistan and Africa turned author. His book “Love Me When I’m Gone: the true story of life, love and loss for a Green Beret in post-9/11 war” is currently available, with his next book scheduled to hit the shelves in January 2015. He currently lives in Santa Clarita and works as an Investment Advisor Representative for TransAmerica Financial Advisors.

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