Frank.....Your not considering all of my comments.
I also look at the future, but not out too far and where a company may be in relation to their competition, the industry, and many other factors.
You missed the gist of the conversation between DABOSS and myself.
I said the investment community has changed, the bubble was busted and wasn't created only by future earnings.
When the analysts were saying buy at PE ratios of 200-1000 times earnings that is not based on future earnings, it's pure nonsense.
I also expect most shareholder interest today is a reflection of current earnings and short term potential, not speculation on many future products that may or may not come to fruition.