Making Sense of Financial Data
Practically every day, the government, corporations, think-tanks, pollsters and associations release data into the already burgeoning stream of information for the media and consumer to lap up and absorb. The problem is, it is mostly useless. Not because the information is bad, although it might very well be skewed, but once it is released for our consumption-what do we do with it? Our choices are limited to applying our own points of view in determining relevancy, or relying on someone else, whose opinions we agree with or ignore it all together. Either way, if our investment decisions are based on the minute -to-minute flood of financial or economic data, we are probably fooling ourselves under the illusion of control. In other words, if we take information, parse it (albeit subjectively) and then make a financial decision, we now have control over our financial success and destiny. Sounds good, right?