FYI: Some of the smartest people in the world work on Wall Street, but that doesn’t mean that markets can’t “overshoot.” In other words, the economy is never really as good nor bad as markets suggest, and right now they are sending a pretty dire message. But there’s good reason to think that markets have perhaps tilted too far to the downside after the S&P 500 Index fell almost 2 percent Monday to its lowest since April only to snap back to end little changed.
Regards,
Ted
https://www.bloomberg.com/opinion/articles/2018-12-10/the-efficient-market-hypothesis-takes-a-beating
