Irresponsible Journalism

Yesterday, the media had information that the Bancroft family wasn't going to sell tthe Wall Street Journal to News Corp. And Rupert Murdoch was ready to walk away from the deal. Today, the news media forgot yesterday's incorrect information and touts the ending of 104 year control of the WSJ.

If everything was as sensitive as people claim there would have been no leaks to the media. In fact, one should have bought the stock yesterday because the stock's price had Murdoch walking away factored into it. So my conclusion is that the insiders wanted another chance to buy as many shares of the WSJ as possible.

So once again if you traded with the knowledge that the media's job isn't for correct information but to sell information you could have profited. Of course, if the media information was incorrect most of the time then no one would read it, but there is enough inaccuracies to profit from.

Take the suprime meltdown and AHM falling to the wayside, everyone is shooting first and asking questions later. Now is the time to look for investments that work since you can finally begin to get a discount to what it's worth.