US stock benchmarks were flat on Friday. Too many office parties. Too many distractions. Too many investors with no clue. “Is the news good or bad?” they asked. “Is that good or bad for asset prices?” Having no good answer, they let the week pass without showing much conviction one way or another. So let’s move on… The problem with most people is that they aren’t cynical enough. A little more distrust… or at least suspicion, combined with sneering contempt… would help them understand how things work.