Oh no – the markets are falling, the markets are falling! No, no they’re rising, wait they’re dying! We’re dooooooommmmed….aaaaahhhhh.
They appear to know what they’re doing. And they do. Sure they know how to talk about finance. Yes they have paid their dues. They know the ups and downs of the markets. But they also know the ups and downs of emotions. Of drama on TV.
Financial or not – it is television after all. Drama first, expert financial information second. Yes there is some great information there – but how the hell are you, the average American trying to make her financial way, going to decipher this stuff?
Look-y here. I’m no investing expert, far from it. But I am an expert in creating the life I want and managing my emotional state. And certainly in managing my own finances in sensible ways. Watching this stuff just doesn’t make sense to me. It stresses me out, overwhelms me and has nothing to do with making money or managing it – unless I want to become a full-time trader. Which I don’t at this point in time.
Think about it – how to people in the industry make all their money? By managing other people’s money because they can’t trade for themselves, and getting percentages. Sounds like sales to me! Shooooot cletus – it is! Heck – I used to work at a hedge fund in the IT department, so I’ve been behind the scenes. Anyone who works or has worked in finance will tell you near the same.
They can’t fool me, what they’re trying to do on these here TV shows – and that’s get an emotional rise out of you or me, the viewer, so we’ll stay glued to set. So you’ll participate in financial discussions on their websites and tweet-yourself-out-til-you-die about the state of the markets.Just like when I watch Law & Order – NCIS – or Entourage. I love the play of drama.
But not when it comes to my finances – drama is no fun here. Not allowed!
Certainly it’s not just the anchors that are creating the drama – they’re just the channel. Like Melissa Lee (the tough-nosed, don’t-screw-with-me host), Amanda Drury (more sweet/kind, nice accent) or Maria Bartiromo (the well-dressed family oriented, well-to-do, mother-next-door type) – let’s not forget about the producers and masterminds behind it all. They’ve got all the flavors there to please your personality and connect with them so you’ll stay watching.
Jim Kramer is the Mad Money maestro. Maybe you’ve heard of the Kramer Effect? That’s when Jim Kramer recommends or disses a stock on Mad Money and everyone watching buys or dumps shares. Isn’t that an insane amount of financial power? Must be nice! I like Jim’s style though – I just hope he doesn’ t have a stroke with all those veins popping out of his head as he screams and hits buttons. Jim are you hitting the gym, I hope? I enjoyed your loud, aggressive ramblings, they make me laugh, even though I won’t listen to a word of what you’re saying, because it’s not really meant to help me.
Do you think Warren Buffet sits around watching these shows? I highly doubt it. If he does I’d be surprised and I think he’d agree. Well, being a billionaire he probably has 10 people he hires to watch these shows all day, while he chills and talks to other billionaires or his wife about what’s for dinner. Slow and steady is the way to go. Even if you want to be a day trader – do you think the best day traders that stick with it get all emotional and stressed.
Do you think Richard Branson (more my style anyways being a hip, ol’ entrepreneur) is gonna be overly concerned about a dip in the market? Hell no! That he’s going to waste even one second watching these shows. Sure, he might be on the show, but that’s smart as an entrepreneur, and probably for a new company launch or forecast, that’s just PR. But never as a viewer.
Maybe I just don’t get it yet, and investing is a weaker point of mine, for sure. I have it on my agenda to someday understand it all. But I know that financial TV is not somewhere to learn about what works, what the secrets are, and more importantly finding MY WAY of investing.
Remember don’t get stressed – financial TV shows are made to capture your emotions and draw you in to see ‘what happens next’.
But that’s kinda all media now, isn’t it?