#3 Investing 101: Business Valuation And Apple Case Study

Valuation is the hardest or the simplest part of investing. It all depends on your qualitative judgment.

This may sound counterintuitive but valuation is simple.

Or let me put it this way: Valuation should be simple.

I have observed that many investors think valuation as the hardest part of investing because it requires operating with complex financial models. That sounds smart so we tend to believe it. If it was easy, everybody could do it, right?

Wrong.

You …