I have a new piece out at Enhancing Capital. Topic is booming stock markets and how to explain record-highs.
On a related note, one thing that’s frustrated me lately is people’s willingness to ignore good news when it comes from the “wrong” source. Booming financial markets, for example, are happening. Perhaps you think the recovery is all “phony” or whatever, but that doesn’t change the fact that stocks have performed remarkably well over the past five years. Those who insist this is all a facade and refuse to buy in are only hurting themselves.
“But the country just can’t be doing well as long as Obama is in office, right? I mean, he’s got all the wrong ideas! He’s “fundamentally changing” (or whatever) the United States!”
Again, even if that is true, it doesn’t mean we haven’t had six years of strong recovery, or that major economic indicators aren’t looking better and better with each passing quarter. Good things can happen even with the “wrong” people in power.
Don’t let your politics get in the way of your financial success. You can still criticize Obama and the actions of economic/monetary policymakers while taking advantage of the booming stock market. And yes, you can even believe things are worse than they would be if policymakers had taken another path while still believing that markets are strong.
Same goes for your personal life. Don’t ignore good ideas coming from people you don’t like, or from people who’ve had only bad ideas in the past. And don’t let the source of your information determine how you are going to use it. Weigh everything on its own merits and look out for your own interests. Don’t waste your energies spiting others or refusing to grant legitimacy to an idea you had rejected in the past. Rise above all that. You’ll be better off for it.