I’ve posted Entry #247 to my weekly Valuation-Informed Indexing column at the Value Walk site. It’s called The Only Way to Make Sense of Stock Investing Is to Acknowledge That It Doesn’t Make Sense.
Juicy Excerpt: Humans are not the rational animal. We are the rationaliZING animal. We do crazy stuff. Then we make up stories to persuade ourselves that the things we do make sense somehow.
Humans buy stocks.