Key Takeaways Warren Buffett has pointed out that book value can significantly misstate the intrinsic value of a business.He ...

Warren Buffett has pointed out that book value can significantly misstate the intrinsic value of a business. He prefers using intrinsic value, "the discounted value of the cash that can be taken out ...

Warren Buffett started out by identifying opportunities in undervalued companies. Later, his strategy was buying a company that would get bigger on its own. We look at that second phase of his career.