By Ben Carlson, CFA
A Wealth of Common Sense
Things are happening faster than ever in the markets lately, and that includes the shift in narratives. Price tends to drive the narrative around sentiment, but those prices tend to move much faster than the stories investors tell themselves.
Things change. Markets are constantly evolving. You think you understand what’s going on, and before you know it, you’re investing in a completely different environment. The leaders can become the laggards like that and vice versa.
Just when you think you’ve got it all figured out, the market goes and does something no one thought was possible.