Make More Money: Ignore the Experts

Here at the Fool, we've always made our living thumbing our collective nose at Street Wisdom. It's not just because it's so much fun to do. It's so profitable, too.

Take the upcoming catastrophe for retailers, for instance. For months now, we've been hearing how retailers were ailing, and things were going to get worse. From the popular schadenfruede directed at Wal-Mart (NYSE: WMT  ) this spring -- "Ha ha! Your comps were only up 2%." -- to the hand-wringing about a rumored "denim glut" at places like Guess? (NYSE: GES  ) and Abercrombie & Fitch (NYSE: ANF  ) , you'd think investors were living with their fingers in their ears, eyes pressed shut to avoid seeing the unfortunate overabundance of underage kiester cleavage exposed by all those low-rise jeans.

But you'd be wrong. June sales numbers all over the map show that neither high-priced oil nor threat of housing bubble nor Michael Jackson acquittal can keep strong retailers from continuing to move their products. Motley Fool Stock Advisor pick Costco (Nasdaq: COST  ) , 9%. JCPenney (NYSE: JCP  ) , 7%. The list is long. Even Wet Seal (Nasdaq: WTSLA  ) is getting 'er done these days.

This is not to say that macroeconomic winds can't knock you into the ditch from time to time. But none of the armchair investing pundits who spout this claptrap know anything more about when it will happen than you do. And in the event that they're someday correct, keep in mind an old Italian proverb I particularly like: "Even a blind pig finds a mushroom sometimes."

So, once again, just for the record. Turn off the 24/7 news feed. Ignore the silk-suited bubbleheads. They don't know the future any more than you do, and you can bet they won't be around to say "my bad" each of the dozens of times their prognostications prove wrong.

Concentrate on the things you can know. How are your businesses doing as individuals? How are those stocks priced relative to that performance? In the end, these little things are the only ones that matter.

For related Foolishness:

Seth Jayson owns shares of Guess? and wishes he'd bought Abercrombie back when he recommended it to readers last Halloween. At the time of publication, he had no positions in any other firm mentioned. View his stock holdings and Fool profile here. Fool rules are here.

Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Compare Brokers

Fool Disclosure

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 493075, ~/Articles/ArticleHandler.aspx, 10/25/2016 3:11:47 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Today's Market

updated Moments ago Sponsored by:
DOW 18,171.50 -51.53 -0.28%
S&P 500 2,143.28 -8.05 -0.37%
NASD 5,281.72 -28.10 -0.53%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes

Related Tickers

10/25/2016 2:55 PM
ANF $15.26 Down -0.27 -1.71%
Abercrombie and Fi… CAPS Rating: *
COST $150.88 Down -1.24 -0.81%
Costco Wholesale CAPS Rating: ****
GES $13.66 Down -0.27 -1.94%
Guess? CAPS Rating: ***
JCP $8.39 Down -0.17 -1.99%
J.C. Penney CAPS Rating: *
WMT $69.45 Up +0.26 +0.38%
Wal-Mart Stores CAPS Rating: ***
WTSLQ $0.00 Down +0.00 +0.00%
The Wet Seal CAPS Rating: *