Exactly a year ago “pessimists” were fretting over what they called an “expected hard landing” (whatever that is) in China, doubling it up with “deflation fears” in the West. Anybody noticed that suddenly it’s Inflation Fears, Brexit and Trump that’s renewed their Valium prescriptions? (One good thing about these folks though is that their elbows and rear ends are interchangeable).
The performance of stock market indexes like the Dow Jones, Nasdaq, S&P 500 and FTSE 100 is considered the Holy Grail of financial reporting, and yet their overall performance means relatively nothing to most every investor on the plant.
“People wear being busy like a badge of honor. But being busy doesn’t really tell you anything about what you’re accomplishing. Anyone can be busy.” – Ben Carlson
What should make you wonder is whether all those single variable conclusions about the movements of that hugely complex financial market machine maybe have any factual basis whatsoever, or just arrives like an inflatable zimmer frame – the moment you lean on it the damn thing falls over.