Watching the market as long as I have has taught me something I now consider a universal truth: There really is no such thing as a “rational actor.” Investors are often prone to make snap judgments and decisions based on incomplete information or just something that looks bad on the surface, and it’s not always clear why.
It would be funny if those irrational decisions didn’t affect the economy, but they do. It’s not necessarily bad news, though – every time it happens, there’s always an opportunity to be had.
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