Mises Wire
Author:
Robert Blumen
Online Publish Date:
Stephen Mauzy, in a post The Chimera of Intrinsic Value , writes: When the term “intrinsic value” is conjured, it is conjured to support an analyst’s target investment price, which more often than not differs from the market price.Somehow the aggregated opinions of buyers and sellers got it wrong, but the analyst gets it right. The market-formed