I know better. You do as well. It's just difficult to fight off the media. They need a story. Without one, most talking heads, pundits and scribes aren't creative enough to entertain an audience.
So, they go negative and try to scare you into thinking that what they're selling matters.
The fiscal cliff gets hyped nearly as much as Y2K. The Federal Reserve becomes the most evil entity in the world. And the stock market, simply because it keeps going up, is a house of cards set to implode and take your kid's college education and retirement with it. Social media -- it's a bubble. Amazon.com (AMZN) has somehow been successful for 13 years despite having a reckless spender at the helm.
We're surrounded by negativity. It's no wonder elections make investors anxious.Instead of milking the sky is falling stories for all they're worth, 24-hour news stations should just play a loop of Billy Joel's We Didn't Start The Fire.
Birth control, Ho Chi Minh, Richard Nixon back again/Moonshot, Woodstock, Watergate, punk rock/Begin, Reagan, Palestine, Terror on the airline/ Ayatollah's in Iran, Russians in AfghanistanRight, we didn't start the fire, it was always burning since the world's been turning. In other words, there will always be crisis. In fact, we live in a state of perpetual crisis. It's always been that way, as Billy told us, but there's no question that 9/11 helped amplify that dynamic. For me, this means when Barack Obama wins the election, most investors shouldn't do a thing. If Obama somehow manages to snatch defeat from the jaws of victory and Romney wins, move your female children to Canada, but don't change much in your investment portfolio. Never-ending crisis is basically white noise. And one thing smart investors refuse to do is sell on noise. No, you load up. Buy when others are fearful. It will be fitting for a country with such an absurd system for selecting a President -- Obama will win, the Republicans will own Congress. We'll have four more years of gridlock. The stock market might blink from time to time, but, over the long-term, no matter what happens in Washington, it won't bust. At the time of publication the author held no positions in any of the stocks mentioned. This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.
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