The magic of markets is that they aggregate information from lots of individual actors into prices. As such they are an amazing coordination mechanism that has done wonders for guiding economies. But prices are also noisy and especially so when it comes to assets and in particular to the share price of companies. This post is a reminder to focus on fundamentals and largely ignore short term swings in share price. The price for pizza is determined by the demand and supply of pizza. Both of tho...
