Advocate- a very well thought out post that I appreciate.
I don't choose to if ignore the future earnings and profits, or NPV, I simply don't believe that in today's day and age those are driving factors in determining price like they used to in previous generations.
In my opinion, today's markets are very much driven by behavioral finance, and when the market factors in hedge funds, investment firms, shorts, and how those company's utilize tech/speed of information advantages, fundamentals go out the window.
So while on paper your example makes perfect sense, it does not mesh with reality. If NPV and fundamentals mattered, Tesla would be worth far less, LWLG would be worth far more, and Amazon wouldn't have been valued so high when they hadn't turned a profit in decades until AWS came around.
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