Maven: Preaching the GDP Gospel

Going forward in the reporting of the initial GDP numbers, there needs to be that word "initial" in the headline. And there needs to be a surgeon general's warning in the first sentence or two that these are first-stab numbers and that basing an investment decision on them can be hazardous to your portfolio. If that's not there, mentally slap on a "Business Press Maven warning."

Usually, when there is a line about the possibility of a revision, it might be inserted at the end -- after 800 words of conclusions about numbers that aren't worth the bandwidth they are printed on.

If you only take one thing The Business Press Maven ever said as gospel, let it be that you should not allocate assets on the basis of these ridiculously errant articles.

On behalf of all the investors who are misled, business journalists mark my words: The Business Press Maven is taking names next time the initial GDP number is reported. Business journalists who don't make abundantly clear that these numbers might very well be revised and stop themselves from drawing numerous conclusions from a figure that might as well be written in lemon ink, will face intense, psychologically scarring public ridicule.

That's right. You will become the subject of a highly insulting limerick.

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