Media CheerLeaders

So, who is really shocked to hear that business reporters only like to write good positive things about their subjects, giving readers the impression that the companies are well run and therefor good investment opportunities? This is a story I know all too well.

During the entire time of the dot-com boom, I received so much hate mail for pointing out that those businesses were doomed to failure and anyone stupid enough to buy their stocks would take it in the shorts. However, since all of the big business press were describing the business world as different and the normal business cycles as non-existent, I was out-numbered and ridiculed for sticking to the old fashioned basics of financial analysis.

How many of those so-called financial experts, who were doing nothing more than parroting company press releases, are still considered credible today? Unfortunately, most of them are still out there and they don’t seem to be tarnished by their incompetent and downright irresponsible cheerleading for ridiculous business plans and insanely over-valued stocks.

KMK

Voting To Eliminate Income Taxes

If they can keep it from being kicked off the ballot, as always happens here in Arkansas, voters in Massachusetts will have the unique opportunity to vote to repeal their state income tax. Predictably, the doom & gloomers are out in full force forecasting the end of the world if the initiative actually passes. According to this piece from Fox News, the pro-tax forces are ahead in the polls, with 49% of people favoring keeping the tax and only 39% supporting its repeal. With over two months until the election, anything is possible. As always, I am rooting for the elimination of a tax and hoping that the Mass. voters will show people in other states that such a positive change is in fact possible.

KMK