PTM 0.00% $1.05 platinum asset management limited

Ann: Funds Under Management - March 2024, page-9

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    No. Price is purely the consequence of supply versus demand. As we know, both of these (especially demand) can fluctuate for a host of reasons, including (though not exclusively) factors related to crowd psychology. In brief, psychology dictates whether the crowd's focus is on long term factors (usually associated with anticipated business & economic performance) or short term factors (like fears of price falls, or excitement about possible corporate action, to give two examples).

    Unless you believe a fair price fluctuates with whims of psychology, then it cannot be assumed that price is always fair.
 
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