Don't Be Blinded by Ideology

 | Oct 24, 2011 | 2:39 PM EDT  | Comments
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Ideology's a killer in this business. Ideology meaning that there's an agenda behind what people are saying, an agenda that might be keeping you from making money.

Take Europe. How many times have you heard that Europe is going to take us all down? There's ideology behind this statement. The ideology is that the social democrats are going to wreck the world and that we can't afford to have a European welfare state.

Or how many times have you heard the debate about how the economy is stalled because there's too much regulation? That's the laissez-faire ideology rearing its head. Or how about the market's stalled because there's no demand? That's the "absolve the liberalism of Obama from the problem" issue.

Let me tell you something. I don't' care about ideology. I care about making money. I am not heartless or oblivious, but my politics and my ideology should be of no interest to you.

Let's face it, if you get lost in the political debates, you can't observe the positives or negatives correctly. For example, we can debate forever what Europe can do, but as long as the debate is forever, then we have a fighting chance to work our way out of the jam. The long debate has allowed banks to reposition themselves to have less exposure. It's allowed policymakers to have a chance to craft some thoughtful solutions. It gives them a chance to raise money.

As far as the demand vs. supply situation here, I don't care who is to blame. I just care about how we are really doing, and it seems like we are doing pretty darned well. If you get too mired in the debate over unemployment, then you missed this remarkable retail and restaurant rally. Get too caught up in Tea Party vs. Occupy Wall Street and you missed the seasonal tech bottom. You hate President Obama too much or get too furious at Republicans, and you don't see rallies in the transports, including stocks like UPS (UPS), which called out the toxic politics in our country.

I understand the need to talk and debate ideology. I care about taxes and I care about energy and health care policy. But my real issues are trying to figure out what companies are going to earn, how well they are executing and how much we should pay for those earnings and that execution.

Ideology just blinds me. It makes me less rigorous, not more rigorous. It makes me worse at my job. So, I save it for talk at home or with my buddies at the Elks or with my dad. Not here. I just can't let it cloud my judgment. It's too costly for all of us.

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