The Holy Grail is not just a biblical concept. It transcends natural and social sciences as well as the arts. Not only does every researcher or practitioner have that one question they would love to see answered, successfully answering that question is what catapults them to the pinnacle of their profession. A great question to ask every investor is, “What is the one question you would like to see answered?” In investment management, the question akin to the Holy Grail is “What investment valuation methodology better captures value inherent in a company?” Given the bedrock thesis that a robust valuation method is one that reliably and repeatedly sees share prices converge to it given sufficient but reasonable passage of time, the question could be re-phrased to “What works in Investing?”

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