Investor pessimism overshadows stronger-than-expected GDP report

Good Morning 👋

The stock market is a funny place.

It does not really matter if YOU can value the share price of a company correctly; the share price will not change until the “market” thinks it’s time to move up and down. Yes, this herd mentality can be frustrating, but when it comes to the stock market, it is the only truth.

Just a couple of months ago, at the end of July 31, 2023, the S&P 500 Index had a YTD return of 19.5%, now fallen to 7.75%. Yes, I know, these YTD returns essentially mean nothing in the overall macroeconomic setting, but it does give us an idea of what the “herd” would be thinking.