That's just the thing. What is short term and what is long term? I suspect most people believe things are not as they should be. Probably most believe that all the wrong things that are happening are going to result in disaster "someday". It's just that there is no way to tell how long doing the wrong thing is going to be profitable.

I have learned the hard way that the market can remain irrational far longer than I can remain solvent. Not that I've experienced bankruptcy, but I have sure lost a lot of money following what I "know" is right regardless of what the market was doing.

Either the market can remain irrational way longer than I can remain solvent or the market knows way more than I can know about fundamentals. Regardless, the short term (a few hours or a few days) is important. The short term (a few days or a few weeks) is important. The short term (a few weeks or a few months) is important. The short term (a few months or a few years) is important. The short term (a few years or a few decades) is important.

The long term? A few decades or a few centuries? Sure, it's important, but what's important to me today is whether I make the right decisions for the short term so that I can prosper enough to contribute to the long term.