I like to spend as much time as possible being around, listening to, or reading from people that are both successful investors and extremely intelligent minds. I find myself spending less and less time (almost none) with the television on CNBC (even muted) or reading the mainstream news articles that just regurgitate headlines.
I spend more of my time now reading books, financial reports, financial newsletters, or listening to audio interviews from established economic and financial minds that take the data and provide an analysis of both where we have come from, where we are going, and why.
I'm not a trader, and I don't think I can move fast enough to beat Goldman Sacs' high frequency trading machines, so I usually don't even check what the markets are doing until the very end of the day.
The following letter comes from hedge fund manager Hugh Hendry, one of the greatest minds in the financial industry today. His view of the world is very different than what you will hear almost anywhere else, and he has not written a letter since the fall of 2010.
April 2012 TEF Commentary