Why I don’t wake up to the news

Look at this idiot:

This is from Wall Street 2: Money Never Sleeps (oh my god).

Here’s the funniest joke of the movie, and it’s entirely unintentional – this kid sleeps five feet away from a rack of Bloomberg screens in his apartment, and still manages to miss the biggest financial crisis in 100 years. Maybe if he had twelve screens instead of six, he’d have had twice as a good of a chance to see it all coming.

It’s one of the the most idiotic aspects of the most idiotic movie ever made about Wall Street. And yes, I am including the one with Whoopi Goldberg.

Anyway, Shia LaBeououfueoef (I think I’m spelling that right…) plays a character named Jacob Moore, whose job description on Wall Street doesn’t actually exist – in one scene he’s a trader, in the next scene he’s a VC raising money for some sort of alternative energy project, in another scene he’s listening to a retail stock brokerage sales meeting, then he sort of works at a hedge fund, then he’s an analyst, then portfolio manager, then risk manager, etc.

Starting your day waking up next to a phalanx of Bloomberg terminals isn’t going to be any more helpful to your investing than standing on your head. And the very worst thing you can do is flip on the news when you open your eyes. I never start my day watching business news or political news. Most of what’s being discussed at 5am or 6am will not even end up mattering later that morning,

Keep reading this article on The Reformed Brocker.

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