WHY THE FINANCIAL MEDIA IS A LOT LIKE PORN

The US S&P500 hit a record high yesterday. Not that you would know it, unless you went digging, given the lack of media coverage. The markets regularly hit record highs, you might be thinking, so it is hardly newsworthy.

That is 100% true. Mind you, markets regularly also fall in the interim, and yet every time that happens, we are greeted by sensationalist images and headlines similar to…