He said, “I lost money twice:
John Bogle, founder of Vanguard, once said "The stock market is a giant distraction from the business of investing." I agree and consider it one of the reasons I think of the stock market as a semi-efficient rather than an efficient pricing mechanism....
The value of just about anything marketable is usually a combination of objective as well as subjective considerations.
"...even with a preference for “intrinsic” value, the prudent investor cannot ignore certain technical metrics, such as momentum."