But there are cycles in all things: underpricing begets excess, which begets a reckoning.
My first conclusion, based on this data, is that many indie authors are underpricing their books.
FORBES: Mark Coker: Indie Authors Are Underpricing Their Books
Nonetheless, our valuation suggests that the market has oversold the stock and is underpricing its growth outlook.
FORBES: Nobody Likes The Netflix Split, But The Stock Is Oversold
But these reasons all lead to the same simple fact that the mortgage market was underpricing risk.
One problem has been the strategy of underpricing and overdelivering on starter cars.
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Trial lawyers and various civic groups blame the losses and the huge rate increases on underpricing during the 1990s.
You do that by underpricing the machine and overcharging for the supplies.
Bankers have sometimes been accused of underpricing deals so that their investment clients can make a swift killing on a firm's shares.
ECONOMIST: Social-media firms see champagne; others see bubbles
The historic tobacco stock underpricing has gone into reverse this year, and Big Tobacco giants like Altria (MO) and Philip Morris (PM) are among the best performing.
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But some people, such as Peter Thiel, a big early investor in Facebook and LinkedIn, have accused the banks involved in the LinkedIn transaction of drastically underpricing the shares.
ECONOMIST: Social-media firms see champagne; others see bubbles
Coming when investors already are concerned about the strength and duration of the economic recovery, and the cost of the fiscal policies that led back to growth, Dubai World's default risk may be only one of the risks that market actors were underpricing.
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