It's a good post, and one that that readers of this blog may enjoy reading in full. As an example of its value, here's the quote by Marty Whitman:
"I remain impressed with how much easier it is for us, and everybody else who has modicum of training, to determine what a business is worth, and what the dynamics of the business might be, compared with estimating the prices at which a non-arbitrage security will sell in near-term markets."This, Carnevale says, basically means that "it's easier to value a business based on analyzing its fundamentals than it is to try and guess where the price of the stock may go over the short to intermediate term."
I agree with that, as well as some other things from the post. Here's the link for anyone who'd like to read it in full.