Whitney Tilson: Let the herd stampede first before making your move

Without doubt, timely and democratic access to financial and market information contributes to smoothly functioning financial markets. But it’s worth asking whether the ubiquity of such information today is a friend or foe of sound investment decision-making. For all but the most active professional traders, the answer is often “no”.

-
The biggest problem, as studies have shown, is that investors tend to over-react to news, so its 24/7 availability harms their long-term success.