The stock market and the economy don’t always mirror each other, and there are times when emotions and manipulation can, in the short run, make investors ignore the fundamentals.
Our economy is the envy of the world, and has been since tax cuts and deregulation.
Anyone who still believes in Efficient Market Theory just hasn’t been paying attention.
I am buying in.
That said, I believe in the Efficient Market Theory, but only over time.
I watch the market all day everyday as I work on other stuff and think the recent gyrations are due mostly to a slowing world economy, China-trade uncertainty, algorithmic trading, and the general uncertainly of Trump's efforts to repair some major imbalances in world trade that have worked to the disadvantage of the U.S.
As an aside, the market volatility is also a consequence of having Trump pull down the curtain that has hidden what China is doing to increase its influence around the world. Along this line, I heard the other day that China was offering free telecommunications infrastructure (ZTE, Huawei, etc.) to developing countries which would give China a huge platform from which to spy on everyone who dealt with said countries. That is part of the reason the CFO of Huawei was taken into custody.
Lotta stuff going on that has come into the public view. I think it a good thing that we know what is going on in the world, but the markets do, of course, factor all that into prices.
If I weren't already all in, I would also buy in right now.