For a while now, I have held an untested theory that in certain instances, the time component of the pricing discount mechanism is a fluid variable, and not a constant. Meaning, that all else equal, some circumstances will lead investors and traders to apply a discount or premium applied upon their time dependent expectations. For example, in a fast trading market. I had considered the time multiple as a real-time occurrence. The research stated in the video below makes me rethink my idea that the fluidity of time perception in the investment process is a real-time event.
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