Investing can sometimes feel like a black hole — absorbing as much time and energy as you allow. As one busy professional put it, “It used to consume my evenings and weekends.” And with recent tariff threats sparking renewed market ructions, that pull can feel stronger than ever. But it doesn’t have to be that way.

Nobel Prize-winning economist Paul Samuelson (1970) offered a timeless perspective that still holds today:

“Investing should be more like watching paint dry or watching grass grow. If you want excitement, take $800 and go to Las Vegas.”

Samuelson’s point is especially relevant amid today’s market jitters. Tariff announcements and geopolitical tensions can jolt prices in the short term, but for long term investors, these moves are noise — not signal.

He’s not alone in seeing investments from this perspective. Eugene Fama, another Nobel laureate (2013), developed the Efficient Market Hypothesis (EMH), which states that share prices already reflect all publicly available information. As he put it:

“For investment purposes, there are very few investors that shouldn't behave as if markets are totally efficient.”

This body of research, known as evidence-based investing, suggests that markets are generally fair and forward-looking. Prices move on news no one can consistently predict. One reason markets have whip-sawed recently is because news seems to change on a daily basis. However, no matter what the market conditions are, the implications are profound:

1. Market prices are the best indicator of value. Trying to outguess them, especially in reaction to headlines, is a poor use of time.
2. Paying fund managers to time when to enter and exit the market often fails. Most market timers underperform over time, particularly after fees.
3. Worrying about day-to-day volatility distracts from what truly matters: your long term goals.

The freedom of an evidence-based approach

The investment approach preferred by Professors Samuelson and Fama offer investors something rare: peace of mind. You don’t need to take calls from brokers, track every headline, or scramble when markets dip on news like tariff threats.

But these two are not alone in recommending an approach that doesn’t focus on headlines. Nobel laureate Richard Thaler (2017) advised:

“Whenever anyone asks me for investment advice, I tell them to buy a diversified portfolio heavily tilted toward shares, especially if they are young, and then scrupulously avoid reading anything in the newspaper aside from the sports section.”

Daniel Kahneman, another Nobel Prize winner (2002), echoed this view:

“If owning shares is a long term project for you, following their changes constantly is a very bad idea.”

 What you should focus on

The evidence of these four winners of the Noble Prize is consistent; forget focusing on short term noise. But there is one thing that deserves your full attention and that is having a clear, personalised financial strategy. This means:

• Defining your financial goals - whether it’s financial independence, early retirement, or helping your children through university.
• Assessing your current position - including assets, income, savings habits and investment appetite.
• Sticking to a realistic plan - aligned with your goals, risk tolerance and time horizon.

This clarity helps you tune out the day-to-day market drama and stay focused on your life and career.

Keeping your strategy on track

Of course, both markets and life are unpredictable and your strategy should be reviewed regularly. When adjustments are needed you can respond thoughtfully not reactively. That might mean saving more, adjusting your risk exposure, or simply staying the course.

The other key is to always keep your portfolio efficient when better investment products become available, whether through lower fees, improved diversification, or smarter tax structures. These quiet improvements often matter more than trying to “win” in volatile markets.

The Bottom Line

Markets will rise and markets will fall. But sound investing doesn't need to be stressful or time-consuming. With the right strategy and advice, you can build long term wealth without getting caught up in the drama of daily headlines.