"It's dangerous as an investor to think that every little [stock market] movement has an explainable meaning behind it."
That's what Motley Fool columnist Morgan Housel tells host Matt Trogdon in the latest episode of Out On a Limb. It's a theme Housel covered extensively in his recent column, "An Honest Stock Market Update."
Housel continued: "Really what happens on the day to day is completely random."
Housel tells Trogdon that financial journalists and financial advisors feel the need to explain market movements in order to be taken seriously, no matter how misguided those explanations might actually be.
"That's really what it is between journalists who need to write something that looks meaningful and advisors who need to sound meaningful to charge their fees," he said.
Watch the video below for more of Housel's insights on how investors should handle daily stock market updates.
Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.