In this case, everybody seems pretty sure that the price is where it is because of the actions of a single person who’s dumped in a very large amount of money relative to the float.
I think it’s clear that he’s the reason the price blew out so dramatically. But it’s not clear why the market didn’t ‘correct’ all the way back (or at least much closer) to 50⁄50. Thirty million dollars is a lot of money, but there are plenty of smart rich people who don’t mind taking risks. So, once the identity and (apparent) motives of the Trump whale were revealed, why didn’t a handful of them mop up the free EV?
That’s not a rhetorical question; I’m interested in your answer and might be convinced by it. But right now I don’t see sufficient reason to be confident that the market is still badly distorted, rather than having legitimately settled on ~60/40.
I think this is a non sequitur. Everything you value can be described as just <dismissive reductionist description>, so the fact that emotions can too isn’t a good argument against valuing them. And in this case, the dismissive reductionist description misses a crucial property: emotions are accompanied by (or identical with, depending on definitions) valenced qualia.