Ann: FY23 Results Presentation, page-51

If you’ve seen as much mispricing over the last decade as I have, it’s a bit ludricious to call the market ‘smart’ by any stretch, stockanalysisguru who actually provided some interesting thoughts, recommended selling FMG at 2.90 in 2016 but look at the price of that one today.

Pricing value is simple, but it’s extremely difficult if you don’t have the right physiology, most individuals lose a hell of a lot of money trading individual stocks and it’s precisely for the reason that they believe the market knows more than it does.