Not news
I’ve just been to the dentist and I don’t feel like writing anything weighty so here is my list of some items in the news that bore me:
- Paris Hilton, in jail or out
- Fred Thompson maybe thinking about running for president
- The Apple iPhone
- Problems in the love lives of French politicians
- Constant predictions about the economy, which are never right
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“Constant predictions about the economy, which are never right.”
Amen to that. Peter Lynch, the legendary investor who put the Fidelity Magellan fund on the map with its extraordinary performance in the eighties once said “if you spend thirteen minutes a year on economics you have wasted eleven minutes.”
Suffice to say, Magellan was never the same after he retired. Another investing legend, Warren Buffett, has a similar disdain for over-analyzing the economy.