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Hello Crazy Cats,
I've been banging on this week about my view that journalists look too often on the dark side - and that we should consider what they say carefully before we buy, sell or hold shares.
For one thing, they do not always see things from our perspective because they do not necessarily hold shares (they're not always allowed to by their editors and producers).
I'm certainly not saying this colours what they say, but they do get their income by trying to find out some disturbing facts and they're not always called upon to do what we should do - consider the balance of encouraging facts.
It happened again when the Alliance & Leicester (AL.) said it had lost about £50 million in the present banks situation. The dark way this was suddenly announced by the media was enough to make us all think A&L shares would plunge and that all the other banks would also suffer.
I certainly expected the worst - and what happens? A&L shares shot up by more than 10%.
I've also been hearing a lot of gloomy stuff about a big recession about to engulf the USA - and hence possibly the world. Well, where is this sudden downturn? The Dow seems to still be doing rather well.
I've been hearing this tale about a forthcoming American recession for at least two years now. It may happen shortly and it may happen soon. All I'm saying is that it still hasn't happened - and the US boom is still performing rather well. So don't let the journalists get you down - they're not always right, you know. Rocking on!
To find out more about Malcolm CLICK HERE
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