Whether a share price is inflated or not is always a point of contention -- if it's so obvious we can all buy our put options and retire on our riches. However Microsoft could literally have sold $7.5B worth of new shares and given that money to charity (which, in turn, would have been a nice tax benefit).
That money is very real, and there is nothing free about it.
Whether a share price is inflated or not is always a point of contention -- if it's so obvious we can all buy our put options and retire on our riches.
"The market can stay irrational longer than you can stay solvent".
That money is very real, and there is nothing free about it.