“In the short term, the market is a voting machine, but in the long term, it is a weighing machine” - Benjamin Graham (“father” of value investing and mentor to Warren Buffett)

Meaning that in the short term, stock prices can be swayed from a company’s true value by investors’ emotions and opinions.

But eventually the stock price will align with the company’s actual profitability and growth potential.

And you’re right that these are crazy times, and the “short term” irrationality can last a lot longer than past experiences.

Historically, we’ve used examples like the 17th century tulip mania, or the dot com boom, but it won’t surprise me if Tesla becomes the poster child for this quote in the future.

Large industrial farms got subsidies. Many small farms went under permanently.

And for every job that was saved, it cost the US ~$900,000.

But the saddest thing were the TV interviews of some of the farmers who had lost the business that had been in their families for generations. Many of them were saying that they still believed in Trump.

They figuratively shot themselves in the foot and were yelling “Ha! Take that libs”