The maxim I was told by my dad, who I think got it from someone like Warren Buffet, is that, "In the short term, the stock market is a voting machine; in the lo

The maxim I was told by my dad, who I think got it from someone like Warren Buffet, is that, "In the short term, the stock market is a voting machine; in the long term, it is a weighing machine" So for the day-to-day, week-to-week, etc movement of an asset or market, its primarily driven by the immediate feelings of the sellers and buyers. Longer term, however, its historically been fluctuations on top of a lower-frequency trend based on fundamentals.