Animal spirits
Keynesian animal spirits The financial markets and news on the Internet nowadays are more of gossip and entertainment rather than well rooted to any fundamentals nowadays. From yield curve to trade wars and North Korea reconciliation and overheated china economy, the average investor is simply drowned in a sea of information where most news don't make sense or point you to a defined direction. I see the value of bottom up analysis for traditional fundamental analysis. Annual reports are not particularly exciting, but it will keep you occupied for a buy and hold strategy, and also give you data and numbers that are most likely reasonably accurate, and a growth story defined by the chairperson. If I have doubts in even this basic assumption, I should not consider the company no matter how attractive they may appear. Market sentiment is another jungle altogether with its exciting and colourful v ocabulary. Take for example. Central bank policy Doves (laissez-faire) and hawks (clo...