Accuracy of Market Predicting, Media Pundits = Fail

From having done an admittedly anecdotal but fairly substantive survey of all the pundits from TV, and the Print Media, I have come to the conclusion that there is little usable information amongst the noise and finding it requires Herculean efforts. The "Business" channels on television are the worst since they are forced into soundbite time frames which pit two opposing pundits against one another in a talkover shouting match resulting in nothing but annoying confusion. If they get an intelligible opinion from someone, it is so likely to be that person talking his or her own book as to make their credibility nearly nil. Then there is the obvious or not so obvious pushing of a position (usually bullish) they feel will improve ratings.
The print media is fractionally better in that they can dedicate more words to any subject but they fall victim to the same shortcomings of diametrically opposed positions argued by the same talking their own book people who populate the television media.

The thing that most irritates me is it is the pundits who come on TV all the time, and speak from that platform of authority, and get it wrong time after time, and then when the market finally turns in their direction are held up as geniuses. Nuriel Roubini for ten years had an accuracy akin to shooting an arrow at a target 100yds away and hitting the planet Saturn, and when the market crashes he's a prophet.

Because of this I just don't pay attention except for background noise and the occasional breaking news story. The Media Pundits are more harm than good. Give me a poster on StockTwits, or a blogger who's track record I can easily see, any day. And the best thing is, I get to choose, not some broadcasting type or editor who has never placed a trade in their life.


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