You are right Sanjayji. When Mahatma Gandhi was asked by an American journalist, “What is your opinion on the work of Karl Marks?”, Gandhiji candidly replied, “This man seems to have learnt the art of making simple things complex.”
Same applies to the stock market. People often make investing very complex. Stock market is the function of economics and psychology. And psychology doesn’t fit in any formula such as DCF method, thus, making markets inefficient. And this is here comes the behavioural finance. Mr. Warren Buffett understands this very well, so we can learn a lot from him.
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