The Magical Concept of Fair Value
On what is that so called “fair value”, how it is central to reasonable investment decisions and what is it composed of…
It’s Everywhere…
You hear it everywhere. You see it every now and then in books on investment and business, even in quick CNBC session chances are great that you will hear it in many ways: “It trades way above fair value”, “It’s a great opportunity, it sells below fair value.” Sometimes, you hear it in other forms: “Intrinsic value of the company doesn’t…