đź“°Â Financial news & media: are you reading for entertainment or knowledge?
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What are the challenges of navigating financial media?
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How can we distinguish between entertainment and knowledge in finance?
That means it's not specific to you, your needs, goals, or objectives, so don't act on the information until you've spoken with your financial advisor. You'll find our full disclosure, disclaimer, and link to our financial services guide in the show notes. Kate Campbell, welcome to this very special episode of the Australian Finance Podcast.
Wonderful to be back, Owen.
Yes, it is. We're talking news. We're talking clickbait. We're talking financial news.
All of those headlines you see on the newspapers, on the TV, on your YouTube channel.
Everywhere. So, let's just get the ball rolling. I got this, I screenshotted this tweet. This comes from a summit of experts, apparently, and it quotes the chief economist of Baron Joey, which is Australia's newest and probably most prestigious investment bank. So, smart people. And the quote is, it will be the largest and longest house price correction in modern history, dot, dot, dot.
What are the biases in financial news reporting?
So in terms of the level of house prices, it takes us back to 2019. So they're saying, on one hand, the headline is, it will be the largest and longest house price correction in modern history. Very scary. But then the actual research suggests that's only 2019, so three years ago. And so a lot of people who hear that type of thing would be very scared.
Yeah. And a lot of time you only see the headline and that's as far as you go. And the headlines can look really scary, especially if the market falls. Sometimes the market falls 1%, but they'll say X billion dollars wiped off the stock market in bloodbath. And it's like really dramatic language. And so that can make you feel quite fearful. And it's not until you unpack what the story is, what actually happened that you can understand it a little bit more. So That's really what we want to talk about in this episode. Some of the sources of financial news we use, how we can read it a little bit more carefully so we don't get freaked out by the headlines and whether any of it's actually actionable.
How do headlines influence our perception of financial news?
There's a lot of it that's arguably just for information, not actually for you to change your financial plan off. And maybe just some ways you can critically think about the information you read, because there's always an expert with a prediction. The paper, if they want one side represented, they can find someone who will provide a statement for that opinion. So it's worth having a look a little bit further under the surface about what these headlines mean and what this means for your overall portfolio.
Yeah. And the media industry is changing rapidly too. So finance in particular is changing quickly. Got rise of social platforms as opposed to just the two big left and right type newspapers.
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Chapters
8 chapters
1
What are the challenges of navigating financial media?
0:00–1:29
2
How can we distinguish between entertainment and knowledge in finance?
1:29–2:23
3
What are the biases in financial news reporting?
2:23–3:21
4
How do headlines influence our perception of financial news?
3:21–4:34
5
What are the essential questions to ask when consuming financial news?
4:34–5:52
6
How important is understanding financial terminology?
5:52–7:06
7
What strategies can help in critically evaluating financial information?
7:06–8:18
8
How do personal biases affect our investment decisions?
8:18–52:17
Speakers
3 identifiedMore from Australian Finance Podcast
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