Manny being Manny

Last night Manny Ramirez (he of the 50 game performance enhancing drug use suspension) hit a pinch hit grand slam homer in the 6th inning to propel the Dodgers to a win. The ball entered the left field stands amidst a throng of spectators in “Manny Land”. Oddly enough, the Dodgers earlier had distributed bobbleheads of Manny to paying spectators.
ESPN responded with a statistic of how many major leaguers had homered on a night when their bobblehead or figurine had been given out.
What does all of this have to do with investing you might ask? (and rightly so)
CNBC and ESPN have a lot in common- heck CNBC will run half time reports during the trading day. Frequently, we wil hear statistics like “the market always goes up the 3rd Tuesday during a 5 Tuesday month in months that begin with J”. It is our contention at Fagan Associates that much of what happens from a media perspective destroys what smaller investors should be trying to accomplish.
We focus so much on the extraordinary and the minutia that sometimes we lose track of some investment basics. Buy solid investments, make more money than you spend, don’t accumulate credit card debt etc.

This entry was posted on Thursday, July 23rd, 2009 at 8:01 am and is filed under Commentary. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.