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In general I don't find articles on Seeking Alpha worth reading. Occasionally there are exceptions. This is one of them. (Some of the comments are also good )

"Market participants have the nasty habit of getting so caught up in the present that they fail to accurately understand the future. A stock is not a claim on the past but rather a right to share in future earnings. The market's evaluation of Nokia (NOK) is a case study in a constrained mode of thinking."

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