When people don’t have access to a sufficiency of facts or information, they default to what little is available to them. It’s called availability error.

(Linkhttps://horizonkinetics.com/wp-content/uploads/Q3-CVALUE-Review_FINAL.pdf)
“The fear about energy is understandable; I get it. When people don’t have access to a sufficiency of facts or information, they default to what little is available to them. It’s called availability error. In the financial markets, in the absence of better information, the default is price. It’s always available. And if price is all you have to go on, energy stock prices look scary. If it’s price, there are only two judgments: something’s up or it’s down, and that defines good or bad.”