We in the financial media like to think of ourselves as solving the economics information problem, as promoting efficient markets by giving investors and consumers what they need to know. But to point out the obvious, going with the dominant media vibe is not the way to invest, as Barry Ritholtz is the latest to point out. I especially enjoyed this bit:

Worse yet, old news can have an impact on your thought process. That’s why I read The Wall Street Journal on the train home, and not on the way to work. Why? It forces me to recognize that the news is stale, and I avoid allowing it to influence my decision-making process. Instead, it becomes for informational proposes only (Yes, I really do this).

UPDATE: As Barry points out in comments, he originally published this in 2005.