From thestreet.com...the truth hurts:
>>>KISS principle No. 2: Log off the chat boards, particularly the ones discussing your favorite stock. In fact, if the choice was watching seven hours a day of CNBC or one hour a day reading the chat boards, I'd rather you watch CNBC.
Look, I'll admit there are some educational, helpful boards out there. But most are just full of blustering folks, who -- while certainly entitled to their opinions -- don't add anything of value other than, well, their opinions.
Trust me, you don't need to read the entire posting to get a feel for what's here. Now, is this kind of stuff helpful? Yeah, I guess if your trading decisions are usually made in a men's locker room right after half-price "kegger night." (Sorry, ladies, I don't mean to exclude you. I just have a good feeling most of these boards are male-dominated.)
I've read other boards about stocks and companies I know a great deal about, and I've yet to find one with any significant value. In fact, when I do know the facts about a company, what I usually read isn't even close to the truth. What, you think Michael Dell is secretly logged onto the Dell (DELL:Nasdaq) chat board, revealing upcoming product plans?
So save yourself some time and avoid the chat boards. They absolutely will not help you become a better trader. However, they will distract you and clutter up your thoughts with a bunch of nonsense. <<<
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