Longer-term concerns become a “blah, blah, blah” in traders ears’

 “A dominant theme in my investing life has been, whenever you think something is priced in, it’s not priced in,”

Greenhaus said.  Dan Greenhaus at Solus Alternative Asset Management

Longer-term concerns become a “blah, blah, blah” in traders ears’ — forgotten right up until something cracks, and then markets wake up and say, in essence, of course we saw that coming.

https://www.bloomberg.com/news/newsletters/2023-08-15/stock-traders-in-us-hear-only-white-noise-until-something-breaks

“I’m not surprised we have a market pausing after such a strong run,” said Marci McGregor, head of CIO portfolio strategy for Merrill and Bank of America Private Bank.

https://www.wsj.com/articles/global-stocks-markets-dow-news-08-03-2023-daea6ee3

NOBODY KNOWS ANYTHING

They don’t want to be what investor Mark Kritzman calls “wrong and alone.” 

https://englundmacro.blogspot.com/2022/07/60-per-cent-of-actively-managed-equity.html