"Scrupulously logical"
Really? Think again, my friend.
The argument may look logical and even compelling. But in truth it is an invalid argument.
The argument is invalid because it is actually based on the (unstated) assumption that there is a linear correlation between income and share price. That assumption is unwarranted to say the least.
The argument is valid or logical iff it is the case that income and share price have a linear correlation. But as far as I have observed generally, the correlation between income and share price is not linear.
It is always a fallacy to think what is the case - ie. the correlation between income and share price is not linear - as a detachment from reality.
PLS chart, page-21082
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Last
$3.29 |
Change
0.125(3.96%) |
Mkt cap ! $9.907B | |||
| Open | High | Low | Value | Volume |
| $3.22 | $3.30 | $3.21 | $53.28M | 16.39M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 36 | 153769 | $3.28 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $3.29 | 212824 | 45 |
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| PLS (ASX) Chart |