Never mind Mr Market (MM), which has shown its clear propensity...

Never mind Mr Market (MM), which has shown its clear propensity in very short-sightedness with is pricing mechanism undershooting and overshooting all the time. I'll use my two of my other large positions as prime example - PLS and MIN, both of which I have discussed here in the Shorting thread as to why the shorting number cannot always be relied upon as an accurate measure of a company's equity being under or over-valued. So in the space of a few weeks, the very same MM thinks MIN is worth 20% and PLS nearly 30% more than it was back then - and that's before the mother of all short squeezes is still to come.

It helps to focus on the underlying value of the company rather than all the market noise, unless one needs the cash soon and have to sell. If MM chooses to value all of STX's gas at a discount, and value all of their future exploration at or near zero at this point in time, that's perfectly fine as it does provide a great buying opportunity for those who truly believe it is undervalued. Over time, MM will invariably revert to a fair pricing mechanism. If MM doesn't price an equity correctly over a long period of time, an external force usually steps in to eat the cake and lick the cream so to speak.

618