No. of Recommendations: 0
It's a mystery to me that these great "teachers", Buffett and Munger, won't disclose their valuation methods. Unlike WB's mentor, Ben Graham, who laid out his thoughts clearly and with far more real erudition than the late great Munger. Maybe Charlie put his method in his will, but I doubt it.
Bottom line, they could have contributed to the theory of finance, but chose or choose not to for fear of losing their competitive edge.
It would be fun if Buffett writes his in his will and it turns out to be something like "discount rate = 10Y treasuries - inflation + 5%".
(I know CM said they don't use discount rate, but without any disclosure why should I believe him?)
