RE:RE:RE:2015/16 Trough Fundamentals - Sentiment - Forward Guidancewhen2buy, you made very good conclusion based on the analysis of fundamentals.
If I only could understand why this massive selling happened just before and even on the Ex-Div date?
Someone mentioned that one of the banks sold around 6 million shares, so at the present dividend rate that makes cool $3.7 mil that they just gave away. I understand that this figure may be a rounding error for CIBC, but there apparently were/are other sellers at a much lower volume for who $0.61 share definitely makes a bigger deal yet they sold too.
This brings me to question how big is the fourth factor of the valuation equation, the equation being SP = financial fundamentals + economic analysis + political climate + market(investor) rationality.
So, are emotions (panic and herd instinct) the prevailing decision making base?