It took just a little bit of digging on company earnings reports to see that the situation is not as bad as the GAAP numbers may suggest and certainly not as bad as the market is pricing in. Most ofThere are many ways sell-side analysts try to find a company’s “fair” value — some useful, others pure illusion. The DCF method is like a massive LEGO set: every tiny assumption has to fit just right, and it opens the door to bias — overconfidence, hindsight, and anchoring. The multiples approach seems easier — c ...