Value investing as a concept, has really taken off in the past couple of decades.
Graham came up with the science behind it, but Buffett single handedly popularized it and made it mainstream by showcasing results that became the fantasy of investors-wannabe all over the world.
Let me play the devil’s advocate here, and put forth a key concept question:
If information is now ubiquitous, and assuming most retail investors have access to the same type of information, at the same time, how does one truly find value and capitalize on it?
If there’s a real discrepancy between the intrinsic value and the price, wouldn’t the numerous eyeballs in the investing realm quickly identify this gap, and take the appropriate action, either by going long or short, such that the net results of their actions would quickly nullify this discrepancy?
Let’s not forget that WB and Graham resided in a …