This is rational in the face of massive doubt about future business earnings and in particular extractive industry valuations, where current reservs are hopelessly inflated in value terms as a large proportion of the reserves on which value has been placed will have to stay in the ground if we are as a race to survive here in earth.
What is actually the contribution of, say, Shell’s reserves to the current stock price? Those long term reserves that is, the one’s he’s talking about?
Excellent, well done all of you who said “fuck all”.
Jeebus, an NPV calculation is simple enough that even an accountant should be able to manage it.