- media types who tell you it is a buying opportunity and recommends whatever idea of the day,
- the cynic and those usually can be found in newsletters and blogs who tell you the world is ending and to buy gold, and
- there is the investor who makes money who you almost never see on TV promoting ideas or hear from on the news letter and blogs. Think about Buffett, Carl Ichan, Soros and others who are still doing deals and looking for opportunities.
To the third camp investment is their business; investing is a profession they can't stop doing it in light of economic forecasts and trends and whatever chart of the day that may be circulating the screens of bloggers. I would like to be in the third camp by ignoring the fear calls of impending doom and disaster. As well as I would like to shut off the happy go lucky optimist where risk does not mean much.
Investment is process and it pays if you adhere to that process over the long term you will get rewarded. Both 1 and 2 types are timing the market whether they admit or not. Timing is never rewarding; reading macro economic trends and reacting to them will never pay off in the long term.
This reminds me of a saying by Lau-tzu:
Those who have knowledge, don't predict. Those who predict, don't have knowledge.