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Market and Economic Outlook Information

 

RECOMMENDED SITES: 

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  • Yahoo Finance App

 

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HOW SELECT WHAT INFORMATION TO READ AND WHAT NOT TO WASTE YOUR TIME WITH

10 years ago, an investor can become a succesful one if he or she has access to information. However with the progress of Technology and the expansion of Internet as a whole, information has now become easily available to everyone. With the playing field leveled, the challenges an investor now face are:

  1. Finding the right source of information.

  2. Ensuring that quality and useful information goes into the head

 

In terms of finding the right source of information for market and economic outlook, I have already provided you with the list of recommended sites that you can add to your favorites.

 

However, the problem with the recommended sites are the massive amount of information, news and reports that are available. Personally when I first started out, there was no guidance or tips on what to read and what not to. Therefore I practically read each and every article that was published, on a daily basis from these sites. Gradually as my experience grew, I was able to start filtering out news and reports that are irrelevant to unit trust investing just by looking at the title of the news or report. This is a key skill which each and every succesful investor should have in their armory, the ability to select and filter information that are useful to us.

 

Let us take a look at a few examples belows. What I want you to do is to decide which articles you would read just by looking at the headlines.

 

Picking the right article to read

Out of the 6 articles above, which are the ones that you have chosen to read? Let's compare your picks with mine.

 

I've chosen to eliminate 3 articles:

  • "Ex-girlfriend can get video deposition of Summar Redstone in upcoming trial" because it is irrelevant to unit trust investing

  • "Puerto Rico government bank misses payment, talking with creditors" because I felt that the impact by this country towards the world economy and global stock market was minimal. 

  • "Buffett says if the government did THIS the Dow could hit 100k" is a pure leisure read. Read only when you have free time.

 

That leaves me with only three must articles which I would carefully read and digest.

  • "What Wall Street took away from Berkshire Hathaway's annual meeting" is a must read as it contains opinions as well as market outlook of Warren Buffett, the founder of Berkshire Hathaways and world reknowned fundamantel stock investor. 

  • "U.S. manufacturing shows signs of stability as export orders rise" is an economic data which would significantly impact the US stock market. Therefore, this is a definite must read by me.

  • "Oil down 2 percent as OPEC output hike sparks profit-taking" is also another must read article. Big movement of oil prices could significantly impact the overall direction of the stock market as witnessed in the first quarter of 2016. 

 

So were you choice of articles to read the same as mine? If its not, there's no right or wrong to it because the ability to pick quality information  to read and digest is a skill one will developed through practice as well as experience.

 

To give you a head start, here are a few personal tips on reading headline that might help:

  • read articles that are supported with points/facts/statistics

  • avoid articles that make prediction without any strong basis or have the word prediction on it headlines.

  • technical analysis articles should only be a reference or a supporting point. Not as a decision maker for your investment

  • if you are into long term investing, look for articles on future development, economic data (inflation rate, government bond yields, unemployment rate, manufacturing index, etc), political outlook and international treaties or agreement (TPPA, cross nation treaties)

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