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> company valuations are the discounted value of future returns after all. Yes, future earnings are worth far less than current earnings - especially in a non-

• anonylizard 2y ago
  Stockholders don't even have that much influence. Because of all the index investing, board votes are often decided by say Vanguard/Blackrock, not mom and pop investors It is only after stocks suffer severe shocks, does private equity spring into action, and discipline executives via the threat of acquisition & firings. So its is actually executives that can be shortsighted, not an ultra-long-termist passive investment dominated US investor base.