Before we delve into prior epidemic statistics, here is a message from Astoria’s CIO.
Currently, the stock market is NOT trading based on fundamentals. Fear and emotions are the overriding components that are driving investment decisions.
Because of the heightened volatility in markets, liquidity is terrible and the moves we are seeing in the marketplace are being exacerbated. The nature of investing has changed dramatically in the past decade. Discretionary fund managers who make decisions based on fundamentals have been overtaken by momentum and algorithms where the price is the sole determinant to invest.
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