Next week, we’re going to see and hear lots from the business media as they interpret and sensationalize the election results.
Let’s look back at our annual business media message because what is old is new again.
Here’s a simple question: “Which business is the business media in?”
Our immediate thought may be they report on the economy and the markets.
But, after some reflection, we realized they are in the entertainment business. Their sponsors pay them fees proportional to the number of viewers they have.
So how do they attract the most viewers: by sensationalizing everything!
They present segment after segment of contradicting opinions all in the hope of keeping viewers interested.
In your role as an advisor, you must have a handle on what the markets and economy are doing because you might be asked by a client. However, no one knows what the short-term will bring. All we need is an Andex chart to see what the long-term brings.
Almost every election result has created market volatility, both good and bad. But these are short lived and will not have a long-term effect on your clients’ financial plans.
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As always, we look forward to your comments.
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