Weathervanes, Pigeons, and the Simple Secret to Investing Success

Your beliefs and investment thesis matter

Weathervane photo by Jordan Ladikos on Unsplash; pigeon photo by Alfred Kenneally on Unsplash

Stock prices should reflect the present value of expected cash flows. Expectations of the amount of those cash flows constantly changes based on new information such as shifting economic conditions, emerging industry factors, or company-specific news, and so stock prices are…