What You Can Learn About Investing From The FoodTV Network
I have a dirty little secret. I love to watch TV. Not just any TV however. My passions are split three ways… first is the financial networks (Would it be anything else?). Second is sports, especially pro football (Go Chicago Bears!). Third and finally is the FoodTV Network.
I’ll admit I have a passion for cooking… and of course eating. But that’s another story.
When I get home from work, one of the ways I unwind is by watching cooking shows. I don’t know why, but I enjoy watching people work away in the kitchen. I’m always curious to see what they’re making. And of course, I like to think about how I’d make it even better. (Did I mention I love to cook?)
Linda and I often watch some of these shows together. Often we plot out our weekend cooking adventures by mixing and matching different dishes from different shows. It wasn’t till a few weeks ago I realized how much these cooking shows were influencing other parts of my life.
And that’s when I learned something important about the stock market while watching FoodTV. But more on that in a second…
Let me give you an example of how cooking shows are starting to impact other areas of my life.
FoodTV is famous for having timely programming. Think about it. When Valentine’s Day is approaching the shows are about romance, intimate dinners for two, and of course chocolate.
In November they show more than a week’s worth of episodes about Thanksgiving Dinner. They’ll discuss everything from how to cook the perfect turkey to 10 different pumpkin pie recipes. During the holidays, you guessed it… Christmas cookies.
They even do a special show for the Super Bowl on food to make for the big game!
If there’s a big event happening, the FoodTV network has it covered.
So, what did I learn by watching cooking shows?
I learned right now economic times are tough.
Earth shattering isn’t it? Ok, now before you start throwing canned tomatoes at me, hear me out. See, the other day I was watching the chefs cook some amazing dishes. That’s when I started noticing a change. They weren’t talking just about ingredients and techniques.
They were highlighting how inexpensive a particular ingredient was. They offered up substitutions to help cut costs. They talked about buying groceries on sale as a way to “feed a family of four” for just a few dollars. They talked about how a particular recipe helps stretch your budget.
It was surreal. It was a big shift from the days of truffle oil, prime rib, and goose liver pate.
Over the span of a few hours (Yes, I watch the FoodTV Network for hours on end) every show had at least one comment like that, if not more. Clearly these shows are focused on cooking in a recession! Just like the Super Bowl specials, these shows had a cohesive theme… and the theme was saving money.
Ok, now to the point.
This little anecdote illustrates just how long and deep this economic recession has become. Really, how often do you see economic events influencing FoodTV? And, that makes me wonder if the recession’s getting overdone?
A few years back, many famous investors talked about the magazine cover indicator. They joked that when a majority of magazine covers proclaimed the stock market dead, it was a sure sign we were at the bottom. Eventually the market would rally. They noticed the same thing with the real estate market, and gold…
By looking at magazine covers and doing the exact opposite it was surmised, an investor could make tons of money.
Was it true? Did it work?
I really don’t know, but it seemed to me to have some validity. So apply this logic to FoodTV. Might they be a contrary indicator of how the market’s going to perform? Might all this recent “How-to-save-money” programming be the modern day magazine cover indicator? Might this be a signal the recession is about to end and we’re at the bottom of a market?
Right now, I’m a believer.
I think once famous TV chefs start worrying about food costs, it’s a sure sign we’re near the bottom. Let’s hope FoodTV is right and sunny days are ahead. I don’t know about you, but I’m going to watch more of FoodTV… maybe they’ll start predicting the outcome of football games too.
Category: Stocks
