Asset Prices Cannot be Weiner: Are they Mean Reverting, Trending (Serially correlated), or one or the other dominates at a given time?

[sirinath]

Hi,

An asset process would be degenerate when it reach zero. For the asset
value to be positive, the drift also needs to become zero. In the case
of a stock, extremely large trading multiples with respect to
valuations are not seen. Therefore, my hunch is that stocks mean
revert to its valuation.

Any opinions?

Best regards, Suminda Sirinath Salpitikorala Dharmasena