>They left out another big lier: themselves. The financial media are as much to blame as Citigroup, the government, and whoever else. Hell, perhaps even more so given the press's traditional role of watchdog and investigator.
That's really unfair. The Motley Fool is about as much a part of "the financial media" you speak of as Slashdot is a typical "news corporation". They have been acting as a watchdog and warning about various bubbles for a long, long time.
The Fool has always been an outsider, unafraid to speak the truths that no one else could-- that brokers don't have your interests at heart, that the market can't be timed, that 99% of all mutual funds lose to the market over a five year period, that all the great long term investors are value investors rather than technical traders, etc. The vast majority of "financial media" writers simply couldn't write those things and keep their jobs.
In that sense they really are like the Shakespearean motley fool.
Comments
>They left out another big lier: themselves. The financial media are as much to blame as Citigroup, the government, and whoever else. Hell, perhaps even more so given the press's traditional role of watchdog and investigator.
That's really unfair. The Motley Fool is about as much a part of "the financial media" you speak of as Slashdot is a typical "news corporation". They have been acting as a watchdog and warning about various bubbles for a long, long time.
The Fool has always been an outsider, unafraid to speak the truths that no one else could-- that brokers don't have your interests at heart, that the market can't be timed, that 99% of all mutual funds lose to the market over a five year period, that all the great long term investors are value investors rather than technical traders, etc. The vast majority of "financial media" writers simply couldn't write those things and keep their jobs.
In that sense they really are like the Shakespearean motley fool.