News has no explanatory power. News items are bubbles popping on the surface of a deeper world. Will accumulating facts help you understand the world? Sadly, no. The relationship is inverted. The important stories are non-stories: slow, powerful movements that develop below journalists’ radar but have a transforming effect. The more “news factoids” you digest, the less of the big picture you will understand. If more information leads to higher economic success, we’d expect journalists to be at the top of the pyramid. That’s not the case.

News is toxic to your body. It constantly triggers the limbic system. Panicky stories spur the release of cascades of glucocorticoid (cortisol). This deregulates your immune system and inhibits the release of growth hormones. In other words, your body finds itself in a state of chronic stress. High glucocorticoid levels cause impaired digestion, lack of growth (cell, hair, bone), nervousness and susceptibility to infections. The other potential side-effects include fear, aggression, tunnel-vision and desensitisation.

News increases cognitive errors. News feeds the mother of all cognitive errors: confirmation bias. In the words of Warren Buffett: “What the human being is best at doing is interpreting all new information so that their prior conclusions remain intact.” News exacerbates this flaw. We become prone to overconfidence, take stupid risks and misjudge opportunities. It also exacerbates another cognitive error: the story bias. Our brains crave stories that “make sense” – even if they don’t correspond to reality. Any journalist who writes, “The market moved because of X” or “the company went bankrupt because of Y” is an idiot. I am fed up with this cheap way of “explaining” the world.