No one has a perfect understanding of the world around them at all times. We can't possibly comprehend all of the forces at work every day, and how they change from tick to tick. What we often believe is a fact is very often a thinly disguised opinion.
The difference between alternative political facts and alternative market facts is the former is judged by whether they help one get elected, the latter by how much capital they cost you. Understanding the difference is worth a small fortune.
This column was provided by Bloomberg News.