So, you believe mass media is telling you the truth? I believe they’re lying to us on more fronts than any of us care to count or consider, and yet, we’re dealing with the results of their lies, redundantly. Why? Because they just keep lying to us.
Recently, Crista Huff, who has long said stocks are increasing readily under the Trump administration suggested not taking mass media reports seriously and thinking for yourself. When today’s reports were radically different on several fronts, she stepped up and figured the numbers herself. The reports were wrong.
Below, you can read her own words:
One of the companies that I follow reported quarterly results yesterday. The stock was strangely and negatively volatile today, which made no sense, because the quarterly results were fantastic.
Then I began doing research. What I discovered were five different sources citing six different incorrect versions of the quarterly profits, including Reuters, Associated Press, Zacks and Charles Schwab.
The profit number seemed like a simple calculation to me, so I was second-guessing myself with worry. But then I found a conference call transcript in which the CFO came up with the same exact number that I had calculated.
I tell people all the time to take any news they read/hear with a grain of salt. In this case, the reporters missed the mark to an embarrassing degree..
It’s not remotely uncommon for me to see media outlets report either the wrong numbers, or ignore lots of good news while going out of their way to find ONE scary-sounding sentence in an earnings report.
My ultimate suggestion to help stock investors avoid inaccuracies is to ignore the media reports when quarterly earnings are announced, and go right to the company’s press release.
Stop buying into the losing messages of mass media. Find trustworthy news sources and lean heavily on them. You deserve to know the truth.
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