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>Stock prices are supposed to include estimates of all futures earnings of a company, discounted for distance in the future, right? In theory. But there are h
by aguyfromnb 7y ago
>Stock prices are supposed to include estimates of all futures earnings of a company, discounted for distance in the future, right?
In theory. But there are hedge fund managers who go on CNBC everyday with "models" based on pure speculation that they can't even justify with a loose DCF model.
The stock market is probably 1/3 investors in the true sense, 1/3 algorithm and momentum traders, and 1/3 unbridled YOLO speculation.