I agree with you. I think you are picking up on the fact that interest rates have been so low for so long, and people are looking for returns that they are just speculating/gambling. It's commonplace to find unicorns or popular brands over valued on fundamental analysis in today's stock market.
That said fundamental analysis is pretty absurd if you process that really all most people are getting is intrinsically a meaningless vote/s as a shareholder. Analysis on fundamentals feels like being stuck on the gold standard. It sounds good till you think about how golds value is speculative in and of itself.
That said fundamental analysis is pretty absurd if you process that really all most people are getting is intrinsically a meaningless vote/s as a shareholder. Analysis on fundamentals feels like being stuck on the gold standard. It sounds good till you think about how golds value is speculative in and of itself.