The three rules of the Street game

Rule 0: Stocks are eventually valued by forward P/E. This is the fundamental rule.

Rule 1: Analysts are very smart crooks employed by big money.

Rule 2: Your goal is trying to win money by buying and selling stocks.

Commentary:

*) Sometimes the crooks may even try to create a perception that Rule 0 is changed, for instance, they may try to redefine valuation formula to other seemingly justfiable schemes, as we have witnessed in the dot.com era.

*) Big money also has control of media.

*) Crooks may tell truth, but it all depends on timing.

*) To win, you must be smart.