Two Yo-Yos Are Better Than One
Think of investing risk (in broad terms) as two yo-yos — one for stocks, the other for bonds. The stock yo-yo has a much longer string than the bond yo-yo, so that when you fling it down it comes precariously close to scuffing the ground. The string on the bond yo-yo, however, is so short it barely reaches your knee on the downswing.
What To Focus On
Seems to me that if you focus too much on things that matter but you have no control over (ie: political porn), you may be putting yourself through unnecessary emotional turmoil. Likewise, focusing on things you can control but don’t really matter are mere distractions.
When it comes to financial planning and investing, many people lose sight of the things they can control (spending, savings) and focus on the things they can’t (direction of the markets and economy).