Markets can be rational during bubbles when most participants are short term focused.
Like it can be rational to expect momentum to continue today, fundamentals be damned, for a quick trade.
The problem comes when long term investors start buying expecting the market to be efficient, when the market is currently playing a completely different game.
Like it can be rational to expect momentum to continue today, fundamentals be damned, for a quick trade.
The problem comes when long term investors start buying expecting the market to be efficient, when the market is currently playing a completely different game.
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