Ask Yourself One Question before Valuing a Company Keep Your Ear to the Ground

Work out the Value before Anything Else

One of my clients has only one Bloomberg terminal in his office, sitting in the corner, and people get ridiculed when they use it too often. His point is that they don't need it – their business is investing and they should work out the value before seeing if there's a sufficient margin of safety to invest at the current price. If there isn't, the work hasn't been wasted because there one day might be.