> Is there even a way to professionally decide if a company's value is 1.25 or 1.4 Trillion?
The quote below is about valuing the bond market in the 1980s. Obviously, it's meant as a cynical answer to your question, but maybe there's a kernel of truth there, too.
"He'd lean across to Lewie [Ranieri] and ask, 'How do you like 'em, Lewie?' (referring to the bond market). Lewie would say, 'I like 'em a lot!' And Mario would say, 'Yeah, I like 'em, too, I like 'em, too.' Fifteen minutes later he'd lean across again to Lewie and ask, 'How do you like 'em now, Lewie?' Lewie would say, 'Don't like 'em at all.' And Mario would
say, 'I don't like 'em neither, I don't like 'em neither.'
Taken from Michael Lewis's Liar's Poker.
The quote below is about valuing the bond market in the 1980s. Obviously, it's meant as a cynical answer to your question, but maybe there's a kernel of truth there, too.
"He'd lean across to Lewie [Ranieri] and ask, 'How do you like 'em, Lewie?' (referring to the bond market). Lewie would say, 'I like 'em a lot!' And Mario would say, 'Yeah, I like 'em, too, I like 'em, too.' Fifteen minutes later he'd lean across again to Lewie and ask, 'How do you like 'em now, Lewie?' Lewie would say, 'Don't like 'em at all.' And Mario would say, 'I don't like 'em neither, I don't like 'em neither.'
Taken from Michael Lewis's Liar's Poker.