because you are wrong.. when you own shares in a company you are entitled to the cash flow of the company. Over time the price trends towards the future cash f

because you are wrong.. when you own shares in a company you are entitled to the cash flow of the company. Over time the price trends towards the future cash flow of the company. In the short term the price can be anything, but if a company continues to grow and generate cash/profits, then the value will go up. There is too much money chasing too few companies so multiples are high, but that is a temporary situation (that could last a decade). Anything that happens in the short run is irrelevant to long term investors. In fact retail investors have a huge advantage over professionals in that they dont have to show returns every quarter.