Well there's a philosophical debate about whether the perceived value is the actual value but I don't think either of us want to get into that.of course. you know how the stock market works. it's about perceived rather than actual value. sometimes those coincide, sometimes they don't.
What I meant though is that I don't think your average trader hears Trump say "We are gonna be open by Easter" and thinks that it's true or a good thing. But they know they can make money out of those that do. Point is just cos the market seems to react positively to something doesn't somehow magically mean that (so-called) smart people think it's a good idea.
Completely agree. He's just utterly incapable of being honest in that way, it's against all his instincts.if he had just been up front there would have been initial panic/sell-off/losses but I strongly believe it wouldn't have been nearly as bad as the wild panic we got especially in something so based on perception, it's better to be up front about bad news and let people adjust their expectations accordingly