> So what happens in practice is that investors capitalize income by keeping one eye on capitalization itself. Is it right that this long essay is saying (roug

> So what happens in practice is that investors capitalize income by keeping one eye on capitalization itself. Is it right that this long essay is saying (roughly) that share prices are not really related to future earning expectations, but to future share price expectations? Well, blow me down with a feather. I'd never have guessed that stock markets were mainly about speculation.