While the market was open for trading on January 1, today is the day most market participants are back at their desks. So, what happens from today onward matters more than anything else. Now, there has been an ongoing debate on the street about valuations, and it could be settled one way or the other in 2026. Just remember: Valuation is a very subjective thing. Should it be defined by a single number? Or by a number justified by the narrative of the time?
