this post was submitted on 28 Jan 2025
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The market's chronic convulsive disorder is, imo, an inefficient pricing problem. Price discovery doesn't really exist, most of the trading volume is "off-exchange" and market makers have severe unchecked moral hazards in how they do business.
The underlying value of publicly traded companies simply does not change as fast as this. Regardless of what you might say about the speed at which the market reacts to new information. In a world where the media openly and solely serves the interests of billionaires and a small outfit like Wall Street On Parade is routinely censored on socials, there's no reason to believe anything you're ever told by the news about any moves in the market.
Stock investing isn't about underlying value. The company itself is almost irrelevant. Stock investing is about predicting stock investor sentiment.
Fancy word foot work for "speculation"
Certainly. But very few people really do value investing anymore. Even professionals.
agreed, we are making the same point. Very little in the world of investment seems to be based on actual value anymore