Zeev's Turnips Patch-No Politics (ZEEV)

[Mapleton]

Zeev, Do you agree that the negative emphasis on interest rates the market has been experiencing is unfounded and perhaps the market is overreacting? The market has ignored strong earnings and focused on interest rates and high oil prices, which we all know is cyclical and will soon fall back to normal levels.

I'm comparing this market to when Saddam Hussein was caught, and the markets rallied, and then later fell because the market knew that would not have a significant or even noticeable effect on anything market related - it was more of an "intra-day fad."

Is the market behaving in a bearish fashion (instead of bullish in Saddam's case) because of an irrational or overemphasis on high oil prices and interest rates? Will the market then realize it missed out on strong earnings? I also heard higher interest rates will boast earnings in many industries (not sure if that's correct), which the market is obviously ignoring.