01/01/2021
Are Stock Prices Predictable? It is doubtful.
The new year saw the Nifty 50 scaling a new peak as it closed above the psychologically important 14,000 mark on January 1, 2021 led by select auto, FMCG, IT and pharma stocks.
There is no such thing as a final answer to security values. A dozen experts will arrive at 12 different conclusions. It often happens that a few moments later each would alter his verdict. if given a chance to reconsider because of a changed condition. Market values are fixed only in part by balance sheets and income statements; by greed, ambition, acts of God, invention, financial stress and strain , weather, discovery , fashion and numberless other causes impossible to be listed without omission.
Hopes, fears, greed , ambition, acts of God - it would be hard to put it more succinctly. It is very hard to program these into anything as unforgiving as an IBM 360
--- Antarix Investment, for Capital Ideas
--- John Hopkins University, USA