The Most Important Difference Between Stocks and the Intangible Economy

i think one of the most meaningful way you can explain what happened in the stock market for the past 20 years is thi distinction between tangible businesses and intangible businesses. To me, the people who understood that the way to play the stock market was to buy the high intangible business are the ones who made money once o were just like, why is my low priced tbook not working? Or my low p like, you know, these guys were just completely mistab right?