One thing I learned about logic is that if you start with a false statement, whatever comes next doesn't matter "almost all valuations and returns are driven by corporate earnings" no they are not, at least not anymore.
Then you're going to have a hard time learning any subject.
Because it's pretty common for educational materials to start with the first-order approximation, then go into the places where you need second-order corrections to it.
If you think the first-order approximation is false because there are exceptions, and you aren't even willing to read a few paragraphs down to find out about the exceptions and nuances, then hey, it's your loss.
