> less sophisticated investors that aren't reading the financials
Do these actually exist? My understanding is that retail investors aren't significant and I don't believe that institutional investors don't look at financials.
Do these actually exist? My understanding is that retail investors aren't significant and I don't believe that institutional investors don't look at financials.
Many don't, like indexed funds. They just try and keep their shares ratios inline with the market and rely on it always going up overall.