--- title: "Meaning & Key Takeaway of: People forget that although we can…" description: "\"People forget that although we can pinpoint the price, we can only guess at future earnings. The past isn't much help: It simply tells whether a market..." image: "https://sms4smile.com/quotes/i/668/barry-ritholtz-5065_although_people-forget-that-although-we-can-pinpo_1605899.jpg" --- # People forget that although we can pinpoint the price, we… ![“People forget that although we can pinpoint the price, we can only guess at future earnings. The past isn't much help: It simply tells whether a market was pricey or cheap.” quote by Barry Ritholtz](https://sms4smile.com/quotes/i/668/barry-ritholtz-5065_although_people-forget-that-although-we-can-pinpo_1605899.jpg) [Download](https://sms4smile.com/quotes/i/668/barry-ritholtz-5065_although_people-forget-that-although-we-can-pinpo_1605899.jpg) [Open image](https://sms4smile.com/quotes/i/668/barry-ritholtz-5065_although_people-forget-that-although-we-can-pinpo_1605899.jpg) > “People forget that although we can pinpoint the price, we can only guess at future earnings. The past isn't much help: It simply tells whether a market was pricey or cheap.” [Barry Ritholtz](https://sms4smile.com/quotes/author/barry-ritholtz/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. Investors can estimate current prices but must guess future earnings; past prices only show if a market was expensive or cheap. **In simple terms:** Price is known, earnings are uncertain. Key Takeaway Focus on earnings forecasts, not just price history. Themes finance investment valuation uncertainty market analysis Mood analytical cautious Type advisory analytical When to use this quote - stock analysis - portfolio planning - financial modeling Key Concepts risk assessment future earnings prediction Questions to Reflect On - How do you incorporate earnings forecasts into valuation? - What risks arise from relying solely on price history? A Different Perspective Past price data may mislead if not combined with earnings outlook. ★ ★ ★ ★ ★ No ratings yet [Although](https://sms4smile.com/quotes/about/although/) [Cheap](https://sms4smile.com/quotes/about/cheap/) [Customer](https://sms4smile.com/quotes/about/customer/) [Earnings](https://sms4smile.com/quotes/about/earnings/) [Earnings Past](https://sms4smile.com/quotes/about/earnings-past-976759/) [Forget](https://sms4smile.com/quotes/about/forget/) [Future](https://sms4smile.com/quotes/about/future/) [Guess](https://sms4smile.com/quotes/about/guess/) [Help](https://sms4smile.com/quotes/about/help/) [Investing](https://sms4smile.com/quotes/about/investing/) [Market](https://sms4smile.com/quotes/about/market/) [Market Pricey](https://sms4smile.com/quotes/about/market-pricey-6115400/) [Much](https://sms4smile.com/quotes/about/much/) [Only](https://sms4smile.com/quotes/about/only/) [Past](https://sms4smile.com/quotes/about/past/) [People](https://sms4smile.com/quotes/about/people/) [Pinpoint](https://sms4smile.com/quotes/about/pinpoint/) [Pinpoint Price](https://sms4smile.com/quotes/about/pinpoint-price-6115402/) [Price](https://sms4smile.com/quotes/about/price/) [Price Guess](https://sms4smile.com/quotes/about/price-guess-6115401/) [Simply](https://sms4smile.com/quotes/about/simply/) [Tells](https://sms4smile.com/quotes/about/tells/) [Tells Market](https://sms4smile.com/quotes/about/tells-market-4273150/) [Time](https://sms4smile.com/quotes/about/time/) [Whether](https://sms4smile.com/quotes/about/whether/) ## Related quotes > [We have a structural problem because you can simultaneously understand the medium to long-term risks of climate change and also come to the conclusion…](https://sms4smile.com/quotes/naomi-klein/we-have-a-structural-problem-because-you-can-simultaneously/) [Naomi Klein](https://sms4smile.com/quotes/author/naomi-klein/) > [The company must be profitable. Preferably it will have increased its earnings for the past five years and there will have been no deficits…](https://sms4smile.com/quotes/peter-cundill/the-company-must-be-profitable-preferably-it-will-have-increased-its/) [Peter Cundill](https://sms4smile.com/quotes/author/peter-cundill/) > [Calculate a stock's price/earnings ratio yourself, using Graham's formula of current price divided by average earnings over the past three years.](https://sms4smile.com/quotes/benjamin-graham/calculate-a-stock-s-price-earnings-ratio-yourself-using-graham-s/) [Benjamin Graham](https://sms4smile.com/quotes/author/benjamin-graham/) > [It is difficult to pinpoint my favorite comedies.](https://sms4smile.com/quotes/rajpal-yadav/it-is-difficult-to-pinpoint-my-favorite-comedies/) [Rajpal Yadav](https://sms4smile.com/quotes/author/rajpal-yadav/) > [When I see someone who has responsibilities, most of the time I can pinpoint that person because of the way he carries himself.](https://sms4smile.com/quotes/eric-ripert/when-i-see-someone-who-has-responsibilities-most-of-the-time-i-can/) [Eric Ripert](https://sms4smile.com/quotes/author/eric-ripert/) > [I'd rather not pinpoint my mistakes.](https://sms4smile.com/quotes/ally-sheedy/i-d-rather-not-pinpoint-my-mistakes/) [Ally Sheedy](https://sms4smile.com/quotes/author/ally-sheedy/) > [Most therapists do not appear to know how to pinpoint and reverse therapeutic resistance - to head it off at the pass. 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We can't pinpoint…](https://sms4smile.com/quotes/david-byrne/maybe-every-city-has-a-unique-sensibility-but-we-don-t-have-names-for/) [David Byrne](https://sms4smile.com/quotes/author/david-byrne/) > [If I really had to pinpoint my happiest days out of the United States, I'd choose those Fifties military days in Britain, particularly my…](https://sms4smile.com/quotes/larry-hagman/if-i-really-had-to-pinpoint-my-happiest-days-out-of-the-united-states/) [Larry Hagman](https://sms4smile.com/quotes/author/larry-hagman/) > [It's hard to pinpoint a 'moment' that validated years of work.](https://sms4smile.com/quotes/marques-brownlee/it-s-hard-to-pinpoint-a-moment-that-validated-years-of-work/) [Marques Brownlee](https://sms4smile.com/quotes/author/marques-brownlee/) > [It is often difficult to definitively link a specific instance of disease to one particular cause, like water pollution. Even when tests show that…](https://sms4smile.com/quotes/charles-duhigg/it-is-often-difficult-to-definitively-link-a-specific-instance-of/) [Charles Duhigg](https://sms4smile.com/quotes/author/charles-duhigg/) > [When we make records, it's hard to pinpoint one thing that inspires a record. It's usually a number of different things that lead to…](https://sms4smile.com/quotes/brandon-boyd/when-we-make-records-it-s-hard-to-pinpoint-one-thing-that-inspires-a/) [Brandon Boyd](https://sms4smile.com/quotes/author/brandon-boyd/) > [The difference between H7N9 and H5N1, is that H5N1 kills chickens very rapidly, so it is easy to identify where the infected flocks of…](https://sms4smile.com/quotes/anthony-fauci/the-difference-between-h7n9-and-h5n1-is-that-h5n1-kills-chickens-very/) [Anthony Fauci](https://sms4smile.com/quotes/author/anthony-fauci/) > [The ideal gymnast would be between 4 feet 7 and 5-2. I wouldn't be able to pinpoint an ideal height, however. 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Although sometimes I think…](https://sms4smile.com/quotes/jane-siberry/everything-i-write-is-highly-personal-but-put-in-such-a-way-that-it-s/) [Jane Siberry](https://sms4smile.com/quotes/author/jane-siberry/) > [In France they spend six months training policemen, then they give them a gun and put them on the streets, and I don't know…](https://sms4smile.com/quotes/mathieu-kassovitz/in-france-they-spend-six-months-training-policemen-then-they-give/) [Mathieu Kassovitz](https://sms4smile.com/quotes/author/mathieu-kassovitz/) > [There are some things that I like, like education, wine, and I'd like to be a good cook, although I'm a pretty good eater…](https://sms4smile.com/quotes/rick-wagoner/there-are-some-things-that-i-like-like-education-wine-and-i-d-like-to/) [Rick Wagoner](https://sms4smile.com/quotes/author/rick-wagoner/) > [When Apple introduced its game-changing iPhone in 2007, Nokia was caught sleeping on the job. Although it had actually developed an iPhone-style device -…](https://sms4smile.com/quotes/noreena-hertz/when-apple-introduced-its-game-changing-iphone-in-2007-nokia-was/) [Noreena Hertz](https://sms4smile.com/quotes/author/noreena-hertz/) > [You can't do every movie - although I do a lot of them - and the thing I'm longing to do is... it's not…](https://sms4smile.com/quotes/lance-henriksen/you-can-t-do-every-movie-although-i-do-a-lot-of-them-and-the-thing-i/) [Lance Henriksen](https://sms4smile.com/quotes/author/lance-henriksen/) > [Although I'm perceived as very optimistic and upbeat, it comes out of being the opposite of that - feeling isolated or lonely, looking for…](https://sms4smile.com/quotes/jane-mcgonigal/although-i-m-perceived-as-very-optimistic-and-upbeat-it-comes-out-of/) [Jane McGonigal](https://sms4smile.com/quotes/author/jane-mcgonigal/) > [I was born in Jackson, Mississippi, in 1969, in a time and place where no one was saying, 'Look how far we've come,' because…](https://sms4smile.com/quotes/kathryn-stockett/i-was-born-in-jackson-mississippi-in-1969-in-a-time-and-place-where/) [Kathryn Stockett](https://sms4smile.com/quotes/author/kathryn-stockett/) > [Although we might settle for less, Heavenly Father won't, for he sees us as the glorious beings we are capable of becoming.](https://sms4smile.com/quotes/joseph-b-wirthlin/although-we-might-settle-for-less-heavenly-father-won-t-for-he-sees/) [Joseph B. 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Although that's…](https://sms4smile.com/quotes/sally-hawkins/i-m-not-very-well-known-however-the-more-well-known-you-get-the-more/) [Sally Hawkins](https://sms4smile.com/quotes/author/sally-hawkins/) > [I would spend hours absorbing every intonation, every inflection - how the singer would convey a sentiment and how it would sound coming out…](https://sms4smile.com/quotes/kat-edmonson/i-would-spend-hours-absorbing-every-intonation-every-inflection-how/) [Kat Edmonson](https://sms4smile.com/quotes/author/kat-edmonson/) [Browse all 578 Although quotes ](https://sms4smile.com/quotes/about/although/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Quotation", "text": "People forget that although we can pinpoint the price, we can only guess at future earnings. 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