The Emotion Of Daily Quotes

The Real Estate Espresso Podcast

We often hear daily quotes, especially in the news media about what has happened to a particular commodity price. The price of oil is up 2%. The stock market is down 1.5%. But all of this is in reference to what? Are we talking in the past day, in the past hour, in the past month? While the news reporters have to pick some point of reference, none of these measurements are actually meaningful to a single individual. It’s like when you speak to everyone, you’re actually speaking to nobody. The problem with speaking to nobody is that it creates a narrative which for those who lack critical thinking will latch onto.

If I bought gold a long time ago at $300 an ounce and today it’s trading at $2,600 an ounce, who cares that it went up or down by $30 in the past day? What decision would I make with that information?

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