Do market fundamentals still matter?

In a perfect world, investment decisions would be made by rational investors on the basis of market fundamentals. But in reality, errors, bias and political interference are major obstacles.

Later this month, at a conference organised by a global asset management firm, I will be participating in a debate on the moot that investment markets are driven by factors other than financial fundamentals. So far, all I know is that I will be arguing the case for the affirmative. However, I am yet to formulate my arguments properly so I thought I will use this column to give it a first go -- and see whether readers might have even better ideas.

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