This is a little bit of stock market analysis from Phil Hill: "Despite the talk of record investments in ed tech and digital content, the reality of the business of big education companies is not so robust. In fact, there is a massive decline in market caps for many of these large companies, as investors are seeing real weakness." By "massive decline" he means that share prices of four publicly-traded companies are half what they were a year ago. I know that people like to read a lot into stock market analyses, as Hill does here ("investors are seeing real weakness"). But who knows what investors are seeing? Maybe they're seeing better deals elsewhere. Maybe it's because private investments in learning technology were $6.5 billion in 2015, up from $2.5 billion the year before. Maybe they're seeing spots before their eyes. The stock market is not rational, and it is a fallacy to ascribe rationality to it.
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