Subject: Re: book recommendation
You need to be good at calculating the intrinsic value of the stock.

Well, that's the goal all the time, isn't it? If you _accurately_ know the intrinsic value of stocks you don't need to play these games. You can just buy the stock(s) that are priced too cheaply.

But that's the whole thing. It is *impossible* to know the intrinsic value of stocks. If it was, all the big guns at Blackrock & Goldman would buy them and there'd be nothing left for us.

Says a person (me) who didn't buy BRK at $2000 a share, since it was obviously overvalued.


... my spreadsheet annualizes the return

Annualizing the returns of a short range of dates gives numbers that are essentially meaningless. Like today's Nasdaq gain of 0.94% is 2561% annual.
So you gotta be careful not to get swayed by seeing large numbers.