Rather, the price at which one might sell an equity could be heavily influenced by temporary forces or misconceptions.
As such, it's caused me to reflect on something I see quite a bit these days on the cable business news network, CNBC. It seems that every day, some of the anchors and/or on-air staff will bark at a guest,
'so, if that's true, what's the trade?'
Or a correspondent will breathlessly describe some equity's price movement in terms of 'the trade' between it and something else.
This is a mistake. It's not about the trade. Here's why.