I am not disagreeing with your comment except that I John Maynard Keynes was correct when he said, "the stock market is like a beauty contest where the object for the investor is not to pick the "best looking" stock but rather to pick the stock that the investor feels the market will think is the best looking." It's the difference between individual opinion and concensus opinion and the concensus group has more money than the individual does to set the price of stocks.