In geek speak, the term “noise” is any disturbance that interferes with or prevents reception of a signal, like the static on your cell phone. In the financial world, the intended signal is trying to tell us how to best accumulate wealth, and the interference is 95% of what you hear from the media. Forbes Magazine’s Mutual Fund Honor Roll? Well-packaged noise. Jim Cramer of Mad Money? Annoying noise. This is according to Chapter 18 of The Bogleheads Guide to Investing.

I think that there is much truth to this assertion. In essence, anything that attempts to “beat the market” is saying this:

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