They want companies trading at no more than 60% of this hypothetical intrinsic value.
Not only do raw ideas have little intrinsic value, but they are often very costly.
Investors try to buy assets when they are cheap in relation to their intrinsic value.
The materials sector is close to bottoming, but not yet investable on intrinsic value.
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The resulting stock price is what Callahan considers the intrinsic value of those future earnings.
Charlie and I have mixed emotions when Berkshire shares sell well below intrinsic value.
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This is another way of saying buy stocks that you believe rest near intrinsic value.
From a value perspective, the focus is on a difference between intrinsic value and market price.
Buffett has previously said that CEOs should repurchase only when shares fall below intrinsic value.
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In this case, that would refer to buying a put that has some intrinsic value.
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Paper currencies have no intrinsic value and need the appearance of worth to inspire public confidence.
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The dollar has no intrinsic value and is not backed by any reserves of gold or silver.
For me, investing focuses on the economics of intrinsic value, while trading revolves around noise and emotion.
Any company trading at a significant discount, say 20%, to this postulated intrinsic value gets Callahan's full attention.
Clearly Target is currently available below its historical premium valuation, and solidly in line with its intrinsic value.
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It's rare enough to have intrinsic value but sufficient enough to be traded in the mass, global market.
You have to work that much harder to build in value, to get stocks below their intrinsic value.
But we are not on guard against deflation, whereby the intrinsic value of money goes up--the opposite of inflation.
The value of money was more stable when it was minted in precious metals, coinage, that had intrinsic value.
Yet three of the four have intrinsic value scores up at the 85th to 87th percentiles in their industries.
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Markets are prone to an endless succession of irrational exuberance that allows commodities to dramatically overshoot their intrinsic value.
He then screens for those selling at the greatest discount to intrinsic value.
My definition of intrinsic value is a low valuation on earnings averaged over a good, bad and mediocre year.
For me, the coming storehouse of value embraces equities selling at intrinsic value.
Enough shorting would bring the stock back to intrinsic value (3 cents, maybe?), to the great benefit of investors everywhere.
Buffett, basically a deep-value investor, only invests in companies whose stocks are priced considerably below its real intrinsic value.
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"When stocks get mispriced periodically we will buy them if they are in the right relation to intrinsic value, " he said.
What sets Callahan apart from other sector speculators is some obeisance to a classic Benjamin Graham notion of intrinsic value.
We believe OAK demonstrates all of these characteristics and currently trades at a significant discount to our estimate of intrinsic value.
Hoarders hold onto items, even those things with no intrinsic value, and feel enormous distress at the thought of throwing anything away.
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