Listed stocks are a vast asset class globally, with most countries' market capitalisations close to their GDP. They also have the unique characteristic of trading on exchanges daily. Their prices at any point of time are driven to a large extent by "sentiments" of the hordes trading in them, in addition to rational expectations about their future prospects (as taught in textbooks). Also, the "tenure" of the equity instrument is very long (as long as the company exists).
Given tha ..
