by Chris Black
Transitory, priced in, correction, fairly valued.
Those things have no meaning in the new market.
Transitory means the prices are here to stay. Priced in means that a stock will rally another 30% on news that was already known, when it actually happens.
A correction doesn’t mean that the correct price is ever found, and only lasts for a few hours.
Fairly valued now means a multiple higher than 100.