Focus on what matters in 2013 (22/1/2013)
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Andrew Legget
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Nice video Russell. Good way to reset ourselves for the calendar year ahead. I too believe that sometimes investors like to nmake things more confusing then it needs to be. Especially those online forum jockeys trying to place themselves as experts. It is a virus of investing that the more complex a model or philosophy is the better it will be. I am still trying to find anything where the more complex model works better than the simple model.
I think the concerns about any and all macro bad news comes down to the focus on stock prices, when we get bombarded every day in the news how the “All ord’s fell x% due to concerns about the fiscal crisis in America” etc then i don’t really blame them. Focusing on the business sounds simple but it can be hard thing to do.
I liked your ending, it is exactly how i think, is the “insert bad macro news headline here” going to effect XYZ company in their everyday operations. If not, i can ignore it. I remember telling someone a while ago when talking about investing “does greek defaulting on its debt affect how many iPads that JB Hi Fi will sell in Australia and New Zealand?”. Now if it was Australia than i would be concerned with the effect but the obvious answer is no, what happens in greece will have little effect on JBH.