Chris Umiastowski in Apple investors: How to stay sane by staying long via iMore:
- Realize that you will never have an information advantage over the pros. Most information is geared to short term results anyway. Just don’t pay attention to short term news and rumours when it comes to investing. It won’t help you.
- Buy a stock for your own reasons and sell when those reasons are no longer true. This will stop you from making emotional decisions and trading on rumours.
- Start to notice the wording that journalists use when they talk about information sources. If the source is vaguely referenced, there is a much higher chance of the information being complete crap. Refer back to rule number 1 and 2.
Point 3 nails it!
Update: Readers, this post is presenting my agreement with a writer’s insight into the media, not investment advice.