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What matters is cash flow and guidance. That is pumped up through short term investments that lead to long term problems. There is no real time frame because it is a dynamic process of short term investments. There is no goal even except to make more money. The cult of cash flow. These companies revolve around having cash flows to please analysts.
I wasn't trying to downplay that. I was just saying financials are not a single picture in time. P&L is the period, balance sheet is a picture the day of and cash flow is a hybrid. You can't completely hide bad indicators with the final picture. Speculation is it's own thing but I'm talking about just objectively looking at what they report. A ton of traders have formulas to get to where they believe the stock is valued.