The media have this very annoying tendency to report business news as if they were baseball scores, as if the ups or downs of the Dow, TSX or FTSE are an accurate proxy for what millions of real entrepreneurs are doing.
The other day, out of curiosity, I watched BNN, the Canadian Business News Network. I usually avoid it because it gives me a headache, and this time was no different. It was a non-stop drone of talking heads recommending this stock or that stock on the flimsiest of cause-and-effect relationships. “I recommend you buy XYZ because it’s summer and people like to eat ice cream.” “Recent hail in Saskatchewan will depress demand for flivvers and sprockets so dump LMN.” What bullcrap.
Take any financial guru (please!). I bet that if you tracked their stock picks on a year by year basis you would be a net loser. Because if they were winning they would not be shilling on TV, they would be sitting in front of their computer screens with a big grin while day-trading and making more money.
Actually, “making money” is a misnomer. None of the so-called analysts are real entrepreneurs. They’re simply speculators. And that’s why the health of the stock market means nothing except the appetite of speculators. No wealth is created in their universe, it is only moved or consumed.
Ignore the news. Disregard the stock market. Refuse the recession. The world needs more value creators, not more speculators.
The beauty of being a solopreneur is that I can create my own little economy around me, of happy clients who enthusiastically refer me to their friends, creating a prosperity stream that defies the predictions of any of those blowhard pundits.
The market has absolutely no relationship with what’s happening in the world of business, especially the world of your business and my business.
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