Gobble, gobble

It's Turkey Time!

Since the markets have came out of the "Great Recession", stock market averages have gone up in essentially a straight line. As it stands, most of the markets are at or near their all time highs. Repeat - all time highs. 

Most institutional and professional investors are up a lot of money over this time frame and they are always looking for a reason to book their profits. 

Enter Turkey. 

Lately, the stock markets have been up in arms about what's going on in Turkey. 


I know as much about the country of Turkey and what's going on over there, as I know about the turkey I have at Thanksgiving. Nothing against Turkey, but it simply does not interest me and I don't care what the media says or preaches. There job is to sell you on news, no matter what. 

I don't care what's going on over there. Something to do with their currency. That's all I know. 

Markets go up and down. Right now, markets have found a reason to go down. My accounts are down as are most people's. Big deal. 

For people new to investing, you have to accept this fact, and you must not get emotional about it. Very bad things happen when you get emotional about investing. The worst of it is fear. 

Fear is what sells people the most. Novices tend to sell first and ask questions later. That's a common mistake that sets apart the novice and the expert investor. 

The media LOVES fear. They love bad weather more because more people pay attention to it. I would say FEAR comes next. 

Remember, the media especially the financial media are always looking for stories that will capture readers or viewers. That's their job. That's why they get paid the big bucks. That's why they can charge tons of money for advertising and pay up for top editors, reporters and financial "experts". So, they prey on investor's biggest fear: losing money. 

Here's a great example of an article from one large media outlet trying to take advantage of what is going on over in Turkey. If you care, copy and paste on Google and you'll find it:

'What happens in Turkey won't stay in Turkey': Why this debt crisis could be different 

Scared? Not me. 

Better not let articles such as these scare you either if you want to be an investor. And you should take these articles with a grain of salt. Use them as entertainment because that is what the media does, entertain. 

And by the way, I don't waste my time looking for these types of articles. They often pop up as "Top Stories" or "Breaking News".  I don't watch financial TV anymore, but if I did, I would bet you that what's going on in Turkey is hogging up most of the news. Yawn. 

So, stick to your investing principals. Don't succumb to fear. Block out the noise. And never do what someone tells you to do with your money. You can always consider what they say but ultimately, you need to make your own decisions. 

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