If one listens to the financial media pundits, then she would probably believe that there is always some legitimate reason for market behavior and that the market is always logical and correct. Unfortunately, that is nonsense. It is always frustrating when the market disconnects from reality, but this is precisely when opportunities are created.
The real world remains a much better place than Wall Street wants to admit. This isn’t helping stocks at the moment, but it is what matters long term. It might help Mr. Powell if he read Proverbs 17:28 before having another press conference: “Even fools are thought wise if they keep silent, and discerning if they hold their tongues.”
