Wall Street and Vegas


Wall Street may be moving to Las Vegas, at least in spirit.

If you are invested in stocks and watching the markets you may be getting whip lash. One day up triple digits and next day down the same. Not for the faint of heart. And if you're watching financial news networks for guidance forget it.

One day pundits say Apple and Facebook are screaming buys. Next day they should sell. One day China's economy is crashing, next day comes a ray of hope. Global selloffs followed by global bounce backs. And it seems all those pundits pontificating with sage advice have poor memories, because they never seem to correct their mistakes on the air. Every day is a new opportunity to help you make or lose your money with no accountability.

But perhaps I am being too harsh. They do add disclaimers to their opinions and advice. This market is a lot like playing roulette in Vegas, just pick red or black. But perhaps the best perspective I can offer is to remember all those financial networks are not selling stocks, they are selling advertising.