On March 24, Truepoint presented a “Truepoint Talks” webinar, focusing on how to weather the current market environment. Conor Feldmann led the presentation, joined by Steve Condon, Scott Keller and Lauren Niestradt.
One of the messages emphasized in the presentation was that the market is always forward-looking, and prices continuously reflect the collective wisdom and expectations of millions of investors. Consequently, when news breaks, it’s not simply that bad news sends the markets lower and good news sends it higher. Rather, it’s how the new information compares to the expectations already reflected in market prices that matters.
While, on the surface, news may seem obviously “bad,” if the new information is not as bad as investors expected, then market prices will rise, not fall. As Conor succinctly stated in the presentation, “it’s not good or bad that matters, it’s better or worse.”
Here’s the full recording of the webinar: