and one asks themselves "How did wall street get this so wrong?"
Why was it so undervalued?
Therein lies the secret; wall street is not this man behind the curtain who KNOWS everything. It is not what people have this image in their head of it. They don't know ADAM about most companies or their valuations. They make tremendous mistakes in valuing companies.
Why? Because wall street is HUMAN. IT is US. We say waht is something wrong, not some magic man behind the curtain. We say what a business is worth.
Not some trick to figure out what Goldman sachs is going to think something is worth or morgan stanley. But just using your own knowledge of business's, such as comparing to another company like Under Armour which is related to Deckers as they are in the business of selling clothes, and realizing both should earn the same amount of money over the next 48 months, yet one is worth more than 3X the other?