In a perfect market buyers premium is completely irrelevant. Of course I agree. But when I took Economics 101 decades ago I didn't think anyone assumed perfect behavior. It's why car dealerships sell new Camrys for $23,000 with $1000 back, and only after you dig the financing statement out of the load of paper they gave you is it clear that you are paying over $40,000 for your new $23,000 car. And there were also 14 charges that you need to add in. We see the information we want to see sometimes. I made $800 day trading a stock yesterday. Well, no, you actually made less than $400 when taxes and brokers fee is counted. Again, while the info is all there to see, sometimes we focus on what we want to see.
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