Human psychology is half of it. That's what translates into market behavior. The most successful investment firms if not most base their investment strategies on both quantitative and qualitative analysis which both focus almost entirely on the numbers but some of those numbers reveal market behavior. Ultimately what it comes down to is you have to do your research and that involves looking at the numbers because after all, in the markets humans are responding to numbers and numbers don't lie. I'm a quant myself. I agree entirely with you on the true value being revealed. The market always corrects itself.