In yesterdays video I talked briefly about eliminating the noise that seems to be so predominant today. Part of this noise tries to generate a cohesive narrative that mixes politics, the economy and the market and to impose a relationship where there is probably none. Governments come and go economies travel in fits and spurts and the market does its thing irrespective of the other two. I avoid politics and talk of the economy at all cost because I am a firm believer in their profound irrelevance to most aspects of life. Granted I am fortunate in that I am insulated from a lot of what goes on around me but the overwhelming evidence is that news about both is largely irrelevant and obviously toxic.
It is estimated that in the course of a year an individual might be bombarded by as many as 10,000 separate news items. As a quick quiz name one on the economy or governments that changed the trajectory of your life or more importantly changed the pattern of your trading.
I prefer to adopt the Italian model of completely ignoring governments as they come and go. Since 1946 Italy has had 61 different governments – slightly over one per year. They seem to simply get on with looking glamorous riding Vespa’s, designing beautiful but unreliable cars and offering bad service. Australians have one of those three already nailed…..