"""Then I'd be surprised if you do well in trading. For monetary value; perceived value is value. We have no other means of valuing things monetarily.""" Then

"""Then I'd be surprised if you do well in trading. For monetary value; perceived value is value. We have no other means of valuing things monetarily.""" Then I'd be surprised if you do well in long term trading / investing. Perceived value can change from one day to the next. You don't want to get caught in a bubble. You better sharpen the "perceived value" everybody, er, perceives, with your OWN value judgement that takes facts, numbers, long term factors etc into account. Else, you're trading blindly based on what everybody else perceives, which is really fickle.