> ... have not yet absorbed the enormity of the long tail of this pandemic and the lockdown. I keep seeing retrospective rationalizations on Reddit saying the

> ... have not yet absorbed the enormity of the long tail of this pandemic and the lockdown. I keep seeing retrospective rationalizations on Reddit saying the market "is priced in" based on a perceived mismatch between market gains and reality. I don't understand how this is true when each corner yields something unexpected.