"Newspapers, newsletters, magazines and other printed media typically sensationalize their information in an effort to hold a reader's attention and attract new readers. The investment ideas in the printed press typically encourage harmful short-term strategies such as chasing the hot dot and market timing behavior. This results in a widening gap between investor's performance and the returns of the financial markets.
The printing press is a powerful tool. It can save lives and start wars, but it cannot tell you which mutual fund will beat the market next year. Following specific investment advice from a mass media source is generally not a good idea. Although the information seems important and relevant, unless you have a broad perspective and a deep understanding of the subject, it can do you more harm than good.
Individual investors spend hundreds of millions of dollars each year on investment information. But the money spent buying newsletters, newspapers, and magazines could be put to better use if invested in good quality bonds [or good quality dividend paying stocks] or a stock index fund. As Merton Miller says, the media will only tease you about investment opportunities you had best avoid."
Why You Want to Do It Yourself