I had an interaction with the ‘media’ recently. They’d fawned over a State Monopoly, I pointed it out as being uncool. And I was immediately told my opinion was not ‘proper’.
<I learned early in my career to avoid using ‘value’ words. ‘Proper’ is a value word. These words characterize and connote a personal value, and are not objective.. In formal commerce, objectivity is critical, and intoning values on a topic is offside. You want to work in an Investment Bank? There’s your first leg up.>
Aside from triggering the shit out of me (and receiving several personal insults) in the subsequent exchange – it made me reflect about a ‘cool kid’ I’d interacted with at a Lift event awhile back. They were ‘OG’ -an old school activist and widely respected.
They’d also taken a job at a State Monopoly – ‘selling out’ as it were. We had a coffee together, and I asked:’ “Why now? It’s been legalized.”
They said: “I haven’t had a dental plan in my entire life. I’m tired of struggling”. The honesty and frankness was a punch to the face. I empathized, and understood. And I hold no judgement about the choice.
The Media personality that took a run at me doesn’t have much choice either. They don’t have leeway in what’s demanded (nor can get past the editor). They have a family and obligations.
And that’s the point of this post.
We all have roles and responsibilities to fulfill. Almost all of the ‘investing’ news and equity space is ‘pay-to-play’. People doing the jobs they’re getting paid for, At this moment – I can’t think of a media outlet that offers unbiased coverage of any sector aside from our own. And I encourage you to think about that. That every drip of information put out is paid for by sell-side, or with an unstated agenda underlying it.
Even then – I can’t dissociate myself from my own biases. And I can’t claim high ground in purity. Bias is inbred.
What I do suggest is to know what you’re consuming and who’s writing it. There’s a ton of folks out there ‘just doing their job’. Fair enough.
If you need proof – take a look at GoBlue’s OCS rundown to see how a State Monopoly is strangling small business, yet fealty paid to a State Monopoly via mass media outlet is nothing more than the pursuit of building ‘relationships’ ultimately for ad dollars. It’s not a coincidence staff writers push the same fealty using similar tenors. It’s a cycle. And why news comes in clusters.
No tin foil hat here…..just a hearty ‘caveat emptor’ to you all.
Independence of thought is the best tool in an investor’s arsenal. Above all, I – and we – thank you for your support.
The preceding is the opinion of the author, and is in no way intended to be a recommendation to buy or sell any security or derivative.