If you had put in a market order to buy 1000 shares that evening, the order would have been executed the following morning at whatever asking price existed at that time. It could have been $80.99. You would be paying $1 per share more that the close the previous afternoon.
Like rainy days, we simply have to prepare ourselves and put up with them. And like rainy days, if we are in the umbrella business, we can take advantage of them.
What could be more advantageous in an intellectual contest – whether it be bridge, chess, or stock selection – than to have opponents who have been taught that thinking is a waste of energy?
Opinions of fair value based on DCF calculations are necessarily inexact (rightly vague?). But, at least they at least ask the right question.
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