Rational Exuberance
Update: 2025-05-02
Description
Chapter Two
Rational Exuberance
-
Business Reality Trumps
Market Expectations.
THAT WONDERFUL PARABLE ABOUT the Gotrocks family
in Chapter 1 brings home the central reality of investing:
“The most that owners in the aggregate can earn between
now and Judgment Day is what their business in the aggre-
gate earns,” in the words of Warren Buffett.
Rational Exuberance
-
Business Reality Trumps
Market Expectations.
THAT WONDERFUL PARABLE ABOUT the Gotrocks family
in Chapter 1 brings home the central reality of investing:
“The most that owners in the aggregate can earn between
now and Judgment Day is what their business in the aggre-
gate earns,” in the words of Warren Buffett.
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