The irony of which notwithstanding, fake news is the current headline everywhere – and although some say that fake news can’t damage stock performance over the long term, but we’ve already seen that fake news headlines can cause stock price fluctuations.
Although Facebook and Google have vowed to help eradicate this problem, it isn’t going away overnight. Here are some things you can do to protect yourself from fake news headlines.
Educate yourself on popular fake news websites.
If you know about the fake sites, you can spot them when they pop up in your social media feeds or email. I’ve started to block them in my feeds, but I also try to take the time and leave a response to let the person know the site is known to post fake news.
The opposite is true, of course: educate yourself on news websites that you know have quality, vetted information that you can trust.
Install software to alert you to the fakers.
There are now not just one, but two browser plugins that will help you avoid fake news. These appear to be desktop apps, so if you do most of your browsing on your phone, that won’t help. But, having these around can help you find out if one of your regular news sources is a potential faker.
If you’re on your phone, you can try doing a google search using the word “fake” or “hoax” to see if you can find other reporting to help you understand if the news you’re seeing is true or not.
Never trust a single source – but even that won’t always help.
The old saying “Trust, but verify” couldn’t be more apt in these times. But unfortunately, that doesn’t help – this NY Times case study shows how a single fake tweet can spawn an entire phenomenon. This shows how you should ensure that any news you see that seems even in the remotest sense strange, unusual, or sensational – requires investigating for a second solid opinion.
Many organizations are fighting back by taking to social media to directly discredit false information – while these companies are the outliers, I suspect we might see more of this in the future, so it is worth checking to see if a statement has been issued.
At the end of the day, trust the data.
When you just can’t decide if you can trust the news, why not trust the data? Our apps are based on smart algorithms that don’t look at fake news – they analyze the data of a stock’s history and its sector/industry, looking for pattern to suggest future price movement. It takes the emotions out of it, and can provide you with an unbiased recommendation. Whether it’s monitoring our daily undervalued stocks recommendations, or exploring the safety score feature to see how your holdings are rated, our apps help investors make savvy choices with their investments.