The market isn’t about investing, it’s about speculation
Most fund managers only worry about making their monthly and quarterly numbers. They’re flipping houses it doesn’t matter if the house is over valued as long as someone else is willing to buy it.
Also most fund managers are more worried about being wrong than being right. If most fund managers are buying it, it doesn’t matter how bad it is, it’s save to buy because if all your competition has it and it’s wrong it’s all a wash. It’s not their money. They still look okay and still get their bonus
