GO ON ENOUGH blind dates or business meetings and you’ll soon realize what this world really needs is something to talk about. Whether it’s a New Year’s Eve bash or a dinner party, we all tend to gravitate toward our safe list of well-rehearsed topics. They’re our “go-to” funny stories; those handy little anecdotes that always seem to pass the time during an uncomfortable pause.
The same goes in the market, where Web sites, cable news networks, message boards and always amusing analysts provide a steady stream of insight (read: banter) on everything from seasonal trends to insider buying. The problem is that while all of the cocktail chatter can be entertaining, it can also be quite distracting as well. Why? Because market experts have a knack for discussing everything besides what matters: What they’re actually doing in the market.
As we’ve written before, pundits and analysts will opine for hours on everything from the savings rate to Saddam Hussein. The idea, of course, is to seem highly credible and intelligent without actually committing to a particular point of view. Like a practiced political candidate, they excel at giving a soundbite without actually giving information. (more…)