Jeff Jarvis recently discussed the ongoing argument between old media (like newspapers and television) and new media (like blogs). I find the superiority complex of the old media to be amusing and incredibly pathetic. I’ve got some beach front property in Nevada to sell anyone who believes that journalism is largely about “seeking nothing less lofty than the truth.”
Jarvis points out that journalism, whether in old media or new media, is far from infallible.
“Nobody’s perfect – not even journalists . . . especially not journalists.
Reporters and editors make mistakes. Indeed, they are probably more likely than most to do so. For just as bartenders break more glass because they handle more beer, so journalists who traffic in facts are bound to drop some along the way.
Yet too often, they won’t admit that. What is plainly obvious – even a matter of liturgical confession for people of many faiths – is heretical to the reporting cult: People are fallible. But journalists too often believe they are not.”
When it comes to investing, relying on the opinions of others is a sure way to failure. I prefer to accept journalism (whether found in the old media or new media) for what it often is: agenda driven opinion.
When it comes to investing, I rely on a single, simple, reliable core piece of information: price.
Posted by Andy Hyer 
