Business media and the stock market

TheStreet.com’s Marek Fuchs had an interesting column on Wednesday about the relationship between the business media, the stock market and investors.

Fuchs wrote, “If you have learned anything from The Business Press Maven, it is that the business media provide a running commentary of conventional thought. Get caught up in it and you’re in trouble. That’s because conventional thought shifts, and investors don’t want to be on the wrong side of it when it does. But tilt against it, and you will do well.

“Last year, The Business Press Maven was uncomfortable enough to demand that the business media get his misery over with and parboil him in a cauldron. That’s because a piddling 19-point, or 0.2%, rise in the Dow that brought it over 12,000 was greeted by hyperbolic headlines about ‘home runs’ and ‘once-skeptical investors rediscovering a passion for stocks.’

“But this morning, as the Dow stands poised to break its record closing high of 12,786 — whether in a day or over the next few weeks — headline writers appear appropriately medicated.”

“This is good news for investors.”

Read more here.Â