Sticking to my discussion from a few weeks back, I want to further explain how I consume “news”. I think clients probably assume that as financial planners and investment advisors we stay on top of “breaking news”. This is somewhat true. We stay on top of the headlines so we know what clients may be reading or hearing. But, a financial advisor who reads “breaking news” is likely ineffective in terms of their ability to stick with a plan. Breaking news can make you feel like you have to do something as a reaction to everything you read. The way we invest (and the way we think every long term investor should invest) doesn’t lend itself to needing to know breaking news related to the economy or markets. Sure, we know what’s going on but we don’t sit around waiting to react. Instead, we study long term trends, philosophies, and strategies. These are more important to keep up with.