"No buyer considers all securities equally attractive at their present market prices whatever these prices happen to be; on the contrary, he seeks 'the best at the best price.'"
What does he mean?
"The investor must consider what return the stock might provide even if other investors never changed their mind about it. And that return can consist of nothing more than all the future cash flows paid by the company to its stockholders, out into the future as far as one can see."
What does he mean?
What is the Dividend Discount Model?
What are the challenges of the dividend discount model?
How does the model apply to stocks that pay no dividends?
How would it apply to Bitcoin?
Do you believe that growth stocks or value stocks are superior investments? Why?