> But what about the people who manage those funds' investments? Some combination of trading strategy (to include sentiment but like Fidelity 2045 isn't doing

> But what about the people who manage those funds' investments? Some combination of trading strategy (to include sentiment but like Fidelity 2045 isn't doing HFT), payola, and buy-and-hold. Possibly with some anti-sentiment hedging. Remember I am not claiming sentiment trading doesn't exist, I am disputing that the market is "just sentiment" - either literally or hyperbolically. > overall the market isn't necessarily tied to how well a company is doing. It's a casino. Lot of daylight between "sometimes hype is a factor" and "it is basically roulette".