PNV - Banter and General Comments, page-10352

When you own shares, you own part of a company, what someone offers you for that share in the company maybe higher, the same or lower than the intrinsic value of the company, their offer may not be the actual value of the company, it could be higher, lower or the same. The only time your shares in the company are worth to you, exactly what is being offered for them is when you sell them. Today in the news, an elderly couple sold an African mask to an art dealer for 129 pounds. He then sold it on for 3.6 million pounds. According to your theory the mask was only worth 129 pounds because that couple sold it to someone who offered them that, but actually the intrinsic value of it was 3.6 mil pounds. Your theory is only valid if you sell at the price someone is offering you for your shares because you realise that value when you sell, and therefore that is the realised value of your goods to you, it may not be the intrinsic value of what you sold.