If I was paying attention and acted when First Lady Michelle Obama appeared on the “Tonight Show” and told Jay Leno that she and her kids love to shop at J. Crew, I could have profited from the 186% stock (J.Crew) price increase because of Ms. Obama’s remarks. I was again caught off guard recently when Eric Fehrnstrom, one of Republican presidential candidate Mitt Romney‘s trusted advisors, remarked that Mr. Romney’s campaign policy positions taken during the Republican presidential primary can be wiped away like a drawing on the child’s toy “Etch A Sketch.” His comment resulted in a national media frenzy which caused Ohio Art Company, the maker of Etch A Sketch, stock price to rise over 125% to date.
As money becomes scarce in our current economy, it’s worthwhile to pay attention to what are the trends in society. We don’t have to be Hedge Fund Managers or Wall Street Stock Brokers to increase the wealth in our financial portfolios. All we have to do is diligently pay attention to the game changing information hidden in everyday life. I plan on taking Chris’ advice more seriously and become more vigilant in “trend-spotting.” My hope is you too will pay attention.