Emotion Trumps Rationality

As Ben Graham said, ‘In the short-run the market is a voting machine—reflecting a voter-registration test that requires only money, not intelligence or emotional stability—but in the long-run the market is a weighting machine.’ Warren Buffet - Letter to Berkshire Hathaway Shareholders (1992) All the major U.S. Indexes surged to new highs last week.  It