Ann: Preliminary Final Report, page-42

"What valuation methodologies do you use that ignores the share price to determine the value of a business?"

I have long found that a great number of professional fund managers talk a far better story than is told by their actual investing performance.

And, as a rider to that, those few investment managers that are really good at investing tend to spend their time doing just that, as opposed to writing books about investing, or spending their time on the media circuit lecturing about it.

And, sure, any half-diligent fundamental investor will know that price does not signal value, but unless one references the market price in some or other way, how does one possibly arrive at a conclusion as to whether or not a stock is undervalued, or otherwise?