In defence of Tony, any manager of a listed company knows that...

In defence of Tony, any manager of a listed company knows that their share price can be smashed around by all sorts of stuff. That's why they shouldn't lose sleep over month by month swings. All they can do it focus on making good management decisions and expect (hope) that the market will recognise and reward them over time.

There will be many times a listed company manger will privately think their own SP is significantly under or over valued, but that shouldn't distract them from carrying out the right long term strategy. Even ASX50s like QAN (less than $1 to more than $4 in about a year or so) or BKL (pushed $170 at one stage and then went well below $100) can get pushed around a lot.