like it’s walmart according to wikipedia
In: 17
Allow me to explain to you the [Keynesian beauty contest](https://en.wikipedia.org/wiki/Keynesian_beauty_contest). The stock market is not rational, because the people participating in it are not rational, and ultimately they’re not trying to **BE** rational. They’re trying to predict what the other irrational people are doing to do, and use that prediction to profit thereby.
But even supposing the market *were* rational, the stock market is forward-looking. You don’t want to buy a stock which is valuable today, you want to buy a stock which is going to grow in value tomorrow. So, presumably the consensus is that AAPL is sitting on more future potential to make money, if the people buying it were acting rationally.
But, getting back to point one, they aren’t rational, which is why Warren Buffett says he got rich by being “fearful when others are greedy, and greedy when others are fearful”.
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