> So how was I able to make money
That's called "anecodtatal gambling success" and a lot of smart people suffer from this fallacy.
Applying formal causal inference procedures such as propensity score matching, doubly robust estimators, causal forests, and targeted maximum likelihood estimation (TMLE) to test whether standard fundamental variables like P/E, P/B, EV/EBITDA, ROE, ROA, gross profitability, or free cash flow yield causally influence forward equity returns consistently shows that these metrics exhibit negligible average treatment effects once confounders and colliders are controlled for.
In other words, across modern causal inference frameworks, the estimated causal impact of common fundamental signals on subsequent returns is statistically indistinguishable from zero, which indicates that most traditional fundamentals have no meaningful predictive or causal power for future price performance. There's no alternative opinion to be had. You're just wrong. You can continue gambling if you like, but you're not doing any kind of predictive analysis.