Another thing missing is the repricing of risk and timelines. First, the riskier the company the bigger the discount. This was not reflected in the pricing of a lot of companies before the correction. Second is timeline. You have mining companies etc being priced as producers right now when they are 2 to 3 years away from shipping anything. The time value of money was certainly not reflected in the share prices.
Anyway good night. I'm stoned and off to bed. I hope the DOW recovers when I wake up.
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Last
8,941.5 |
Change
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| Open | High | Low |
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| XAO (ASX) Chart |