I sure wish someone would explain THAT little gem to me.
Given that "Market Cap" is the best tool I know for discerning a public company's value, and market cap is defined as the stock price times the number of outstanding shares, it's difficult to imagine that the author is correct. Sure, if companies are elevating their stock prices through reverse splits or other accounting tricks, he'd be right, but there's no way that's happening on a grand enough scale to elevate the entire stock market...
Unfortunately, no one on Pfffft3 questions things like this. In fact, I sometimes doubt that anyone on Pfffft3 actually reads clo's articles. Does clo herself read them? If she did, you'd think she would question them on her own.
I'm afraid we will never know.
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