I'm not arguing that a market mechanism makes a perfect predictor. As I highlighted in one of my responses above you are giving an investor a fair price to trade in their stock ownership for what it is selling at the moment in the market. I dunno how you suppose to fix the problems with funding RealNetworks. If there is no public market are they going to get funding from the government or private investors???? I mean isn't that even more unfair than having a place where any individual can invest in a company and trade what they think is worthy of their valuation?
You asked for a clarification. I gave you one. Do you have a question? Keep in mind - you asked me based on a flippant comment I made several days ago. I did not set out to lay out a treatise on why the stock market should be banned. My interest in this is tertiary at best - the more antagonistically you treat this, the less likely I am to respond.