Geez goldbear, I'd stay away from the "deeper truth" narrative...

Geez goldbear, I'd stay away from the "deeper truth" narrative if I was you. Everything you say is reasonable for a "value investor", but the simple fact is that neither Buddy, nor Lifx, nor the combined group are for "value investors". This is clearly a dcf situation where you have to make various growth assumptions and discount for time and risks. There is obviously a lot of room for error there, and so it ever was! As I have said in the past, you should never, ever, ever have invested in BUD (or Amazon) based on your current "value investing" approach - yet you did! Now you're out and rabbiting on about "deeper truths", which sounds rather evangelical and "born again" to me!