I'd say that the second and third perspectives are really the same. You'd be left with the actual in-world company vs. the in-market stock. The duality stems fr

I'd say that the second and third perspectives are really the same. You'd be left with the actual in-world company vs. the in-market stock. The duality stems from a stock having two values that can be at odds with each other: real-world value and market value. In some circles the two perspectives are called fundamental trading and technical trading. One extreme of technical analysis is looking only at price and volume charts, sometimes even vertically flipping the chart to more completely detach from any real-world notions you might have about the instrument.