The market here refers to the sum of all investors. What would be a typical timescale that people look at? E.g. let’s say we know that company X is guaranteed to perform much worse than other companies in the coming year or 2 years, but we also know that this company X will perform much better if we look over a longer term (a decade, let’s say). Would the stock value of company X go up or down? Another way to phrase it would be: is most of the money in stocks based on decade-long calculations or year-long calculations?
