People conflict agency with representation all the time. This is not a good thing for every situation - especially abstract concepts such markets and governmen

People conflict agency with representation all the time. This is not a good thing for every situation - especially abstract concepts such markets and governments. I never said statistical arbitrage was not possible. I merely indicated that another's valuation is meaningless to your decision about future profits generated by an entity. I'm probably a nihilist then aren't I. Why bother arguing with me at all then? :-)