The single most important decision in evaluating a business is pricing power.
The Stock Market is designed to transfer money from the Active to the Patient.
The rest of the world really likes our stuff pretty well. It's just we buy so damn much of what they produce.
A hyperactive stock market is the pickpocket of enterprise.
Paradoxically, when 'dumb' money acknowledges its limitations, it ceases to be dumb.
If you knew what was going to happen in the economy, you still wouldn't necessarily know what was going to happen in the stock market.