jpmorgan warnns about anz first wave, page-26

Buy&Hold,
be careful of using huntleys intrinsic value. Its still based based the the provailing valuation models of discounted cash flow, risk free return etc

Just look at their updates on AIO.

I think intrinsic value is much easier to value in general terms, but not specifically. ie its very easy to get a 'big picture' on intrinsic value but nearly impossible to micro manage it.

Its getting late so im lazy to go into detail.
But if you want some good bedside reading, read gorge soros's new book. To me its been the missing link that i needed in performing company valuations.