The Globe and Mail reports in its Saturday edition that it has to be the most-anticipated interest rate cut in history. The Globe's Tim Shufelt writes that all this fuss over 25 lousy basis points. While there is symbolic significance in play given the sharp run-up in rates over the past couple of years, we are talking about a 0.25-percentage-point move, which is just noise if you are investing for the long term. Last week, Fed chair Jerome Powell said a March rate cut was "not the most likely case." With that, the S&P 500 index sagged to a 1.6-per-cent loss -- its worst trading day since September. The bad vibes spread to the Canadian market, with the S&P/TSX Composite Index losing 1 per cent. To cap off the emotional roller coaster, by the end of the trading day, the market was somehow back to pricing in a March rate cut, despite Mr. Powell's unusually direct guidance to the contrary. It seems like the last couple of years has made central bank watchers of us all. "This stuff makes you stupid. Own good companies," Barry Schwartz, chief investment officer at Toronto's Baskin Wealth Management, wrote on Twitter. Mr. Shufelt agrees: This is a case for focusing on company fundamentals over the mood of the market.