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Comment Re:Holy crap. (Score 1) 546

If there was a trade, then by definition the stock was worth precisely the value at which it was traded.

While that is in many cases a vital truth, it becomes a pointless truism when one party is poorly-informed.

A handful of beans aren't worth as much as a cow just because you manage to persuade one hick that they're 'magic' beans. And an instantaneous stock-market price would only really mark the consensus agreement on the worth of a stock if markets were perfectly efficient.

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What is wanted is not the will to believe, but the will to find out, which is the exact opposite. -- Bertrand Russell, "Skeptical Essays", 1928