> No matter how you look at it, Hertz stock currently is worth zero. When street price of an asset is higher than its intrinsic value
The only intrinsic monetary value of a thing is what someone else will give you for it (or what people give you for owning it, like a dividend or rent or whatever.) It doesn't matter why they'll give you that for it, only that they will.
Otherwise how do you explain the value of for example a fine art painting? What do you think their ordained true intrinsic value is? Are all paintings permanently in a bubble?
What are Hertz stocks worth? About 2.83, because that's what I can sell them for.
If you owned a hundred thousand Hertz stocks right now would you just throw the certificate away because they're worthless?
The only intrinsic monetary value of a thing is what someone else will give you for it (or what people give you for owning it, like a dividend or rent or whatever.) It doesn't matter why they'll give you that for it, only that they will.
Otherwise how do you explain the value of for example a fine art painting? What do you think their ordained true intrinsic value is? Are all paintings permanently in a bubble?
What are Hertz stocks worth? About 2.83, because that's what I can sell them for.
If you owned a hundred thousand Hertz stocks right now would you just throw the certificate away because they're worthless?