As an advocate of ‘slow news’ it was good to read Tim Harford’s article on ‘slow investing’ in the Weekend FT. He argues that ‘most investors should operate closer to the six-month timescale than to the frenetic fast-twitch world in which a coffee break lasts an eternity’.
Slow news – what do I mean by that? Maybe not six months (though I have tried a month, walking the Camino in Spain) – but always go for the long perspective, avoid the cumulative effect of ‘fast-twitch’ hourly fixes. And treat the big daily bulletins with caution: they’re no more than what takes the news editors’ fancy on any one day.
Likewise investment. Check your portfolio everyday and the pain of the downs tends, according to Harford, to outweigh the joy of the ups. There’s more reason to smile if you check less frequently: good years for investors happen almost three times more often than bad years.
(Check out Delayed Gratification magazine, published by the Slow Journalism Company.)
We obsess with detail. ‘To single out one murder during a battle where there is one person killed very minute would make little sense.’ (Quoted by Harford in his article.) Morally it does of course – we lose sight of the immediacy of violence if we treat the victims as a collective entity. On the other hand, we lose the bigger picture, and we become inured to violence by the endless repetition.
Detail obscures reality. The 2009 expenses scandal was arguably as much a media as a political scandal – a drip-feed of news day-by-day by media owners pursuing their own agenda. The Brexit campaign was (and still is) all about emotive soundbites obscuring the real picture.
I’d originally included comments about the scandal involving Oxfam employees in Haiti, but I’ve taken them down: who knows where truth lies. Enough to say, I’m treating headlines and assertions with caution, and not rushing to judgement.
But should I be making judgements? Slow news can’t be a pretext for disengagement. The zenpolitics blog has always been about engaging directly with the world, and yet maintaining balance. Upekkha in Sanskrit – equaninimity. It’s a tough act.
Elsewhere in the FT there an obit of an American cyber-libertarian, one John Perry Barlow. For one, I love the idea of a cyber-libertarian. I’m not certain it’s for me, but I covet the name. He wrote of the death of his fiancée in 1994: ‘All hope has at times seemed unjustified to me. But groundless hope, like unconditional love, is the only kind worth having.’
That strikes a chord. Ride the daily news roundabout, and what hope are we left with? I don’t want to get into arguments about whether the world is getting better or worse. But take hope as watchword, take a long-term view, plan for the long term, avoid the news obsessed doom-mongerers – take hope, even irrational hope, as a watchword, and we will do a damn sight better than over-obsessing with the everyday.