“Davidson” submits:

The work of being a Value Investor is to tell the difference between fact and fiction. Doing this in the face of headlines which are often misleading requires a continuous and disciplined analysis of fact vs emotional responses to events with some responses designed more to stimulate viewership than to report the actual news. The misleading headline of March 25^th with Bill Ackman being quoted as saying “…hell is coming” was criticized by Ackman pre-market July 22, 4mos later, as being taken out of context when he was activity buying stocks, not selling. The 2 headlines are below.

There is a mix of headlines everyday investors must sort through. Most of these are emotional responses often a panic FOMO (Fear Of Missing Out) either a buy or a sell that would benefit one’s portfolio. Every moment seems to carry panic of a market shift one may miss. This is a trader’s mentality and often incorrect. The best means available in my opinion is to follow selected economic indicators to know the facts of economic activity. Being factually oriented means one is not a day trader. Being factually oriented means one is a longer term Value Investor.

When most were panicking in March, April and May, Value Investors have been buying despite the headlines.

Bill Ackman warned ‘hell is coming’ because of virus: He then pocketed $2B in bets against markets WED, MAR 25 20208:24 AM 

“I really blame CNBC,” Ackman said on Wednesday. “It took 15 seconds of my interview and then went around scaring people because it was good television… I gave a very bullish message. I said I was buying stocks.”