So I guess what I am asking is how important is it if a bunch of hedge funds have a very bad afternoon? Does it matter in the long-run? I suppose the answer is

So I guess what I am asking is how important is it if a bunch of hedge funds have a very bad afternoon? Does it matter in the long-run? I suppose the answer is that "only time can tell". I just feel as if the media pays way too much attention to the daily movements of an index with just 30 stocks in it, and that they have trained our society to do the same. I fear that paying such a disproportionate amount of attention and importance to such a relatively-not-important thing such as the daily movement of the Dow index is ultimately bad for all of us, because it leads to poor decision-making.