> I still think certain events ground value though: bankruptcies, mergers, and dividends attach a real cost/gain to holding a stock. Those things are themselve

> I still think certain events ground value though: bankruptcies, mergers, and dividends attach a real cost/gain to holding a stock. Those things are themselves the product of the market price, it's not a one way street. This is what Soros' reflexivity is about.