We live in a world of extreme subjectiveness. Cash flows are massaged and obfuscated. Dividends aren't paid, we are asked to look, instead, at earnings yield,

We live in a world of extreme subjectiveness. Cash flows are massaged and obfuscated. Dividends aren't paid, we are asked to look, instead, at earnings yield, but not too closely. Non-GAAP earnings are treated as first class citizens. Companies borrow money against themselves to buy back their own stock, in a self-referential spiral. Meanwhile, governments shamelessly intervene in the markets, to keep the (increasingly subjective) prices high and the (objective) realized cash flow rate (dividends) low. What is the value of any cash flow, with a 0% interest rate? With a negative one? What is truth? These are the crazy days.