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Idiots returned to the market, rejoice and buy

And here we have it again. Hysteria renewed, or hysteria v2.0, whatever you name it. Despite cases of the new Omicron variant declining in South Africa hysterics returned to the markets selling everything. Powell didn’t help either this time as he said tapering may start sooner than expected.

But don’t worry, his words were to test market waters and see how the market reacts… combined with Covid matter that is not a matter at all.

This hysteria is temporary ease of the overvalued market. There is no impact, and probably will be no impact, on earnings and estimates, so the market will recover and this hysteria will be just a laughable event to talk about in a bar. I take this as an opportunity to buy more shares of the stocks I want to own and let the idiots panic and sell. Tomorrow, they will be buying it all back incurring losses on transaction costs and possibly buying higher than when they sold off.

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