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The sad part is that you work in FINANCE of all things and this happens there.

Like: What competence do decision makers in FINANCE have, when they are this oblivious to economics?

Look, I share your sentiment. But, I can relate to the C-squad though. Going squarely against the market sentiment is not the way to gain and keep confidence. And everyone is vibing right? So they are probably thinking something like: as long as the spent is < few percent of a years profit, we can always adjust direction in the future and at least we’ve bet the same horse as the rest. “Those penny pinchers in finance (:: me) don’t get the big picture.”

>> Going squarely against the market sentiment is not the way to gain and keep confidence

I don't think this is axiomatic. I usually invest my time, energy and money in things that go squarely against the market's momentary sentiment.

A better question would be how anyone who thinks about economic fundamentals could get a job in finance (or stay in it).

[no offense intended to the parent post, I'm on their side]

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