The investing world makes little sense today. Valuations seem increasingly disconnected from reality. To understand this point, look no further than Facebook (FB). On a day where news was released of an employee walkout and civil rights criticism of Mark Zuckerberg, the stock was up 3% on the day.
The market keeps rising even as unemployment is reaching historic levels due to the pandemic, China is exerting control over Hong Kong, and there are riots in the United States over social injustices. People are less willing to spend and businesses are less willing