The Market Isn't a Fundamental Analyst

Mark participants have limited insight into what's really happening in terms of fundamentals, and any intelligence that could be behind their buys and sells is obscured by emotional swings. It would be wrong to interpret the recent world wide drop as meaning the market knows tough times lay ahead. At a given point in time, people of all different levels of ability act together to set the price. If you believe the market has some special insight that exceeds the collective insight of its participants, then you and i have a fundamental disagreement.