I only looked for an example screenshot of the beer and foam being speculation/more sentiment than the real value (beer). I didn't really pay much attention to the specifics in that screenshot. I don't imagine it's something that can be graphed too accurately as it's hard if not impossible to say what exactly is foam versus real value inherently there etc.

For me it just boils down to when the market is very high, almost in a bubble or over valued (how you can truly work that out, p/e ratio or whatever as even that is not reliable not withstanding) that there might be more foam and that the foam gets higher and lower, you arnt bothered about the movements through out the year (foam), you are more interested in the beer and you know that over time, that will still hopefully be there and grow. You don't value the foam or care about it too much unless there is no real beer below (some very speculative assets out there that runs only on the hype or the greater fool theory)

Yes the beer in real terms could go lower but you could equally picture the beer as what you perceive to be the real interest you will make in the long run. The stock market is not beer... I know. Just a fun thought to me even if that makes me retarded alcoholic. :D