> punish any company unable to correctly foresee the future
If you're calculating the present value of future profits and the rate of increase in profits declines then the present value can swing wildly. That's not "punishment". It's the market self correcting.
If you're calculating the present value of future profits and the rate of increase in profits declines then the present value can swing wildly. That's not "punishment". It's the market self correcting.