I think its more like the mid twit meme. The idiots & geniuses would respond "I dunno, it's complicated". The big middle reasonably high IQ "smart person" wil

I think its more like the mid twit meme. The idiots & geniuses would respond "I dunno, it's complicated". The big middle reasonably high IQ "smart person" will ascribe causation based on what they are most familiar with. Macro guy will point at rates, fundamental guy will point to some specific earnings season themes, quant guy will be like "momentum meltdown", sell side desk guys will have some flows explanation, etc. The answer is really some unknowable combination of "all of the above".