Ben Graham (famous beta male investor) talked about this in terms of personification calling the market Mr. Market. He said sometimes Mr. Market feels great and has tons of energy and goes way way up. And sometimes Mr. Market feels sad and low and goes way down. Over time the feelings trend logically but day to day or even month to month they make no sense.

Now idk about that regarded shit I just said but I think Ben was trying to explain his cocaine habit to someone when he wrote this.