"By 'intrinsic value' I’m referring to the worth of a business if it were to cease operating, with buyers offered the chance to purchase all or part of its assets. In barest terms, if you were to turn off the lights, is the company worth anything? "
Investing made simple: It's looking too far ahead that gets you into trouble.
A lot of banks are really worthless. They are hoping future loans will pay off the current bad loans they are hiding. No doubt an investor can get wealthy looking ahead to future growth, but it's risky ... the downside is also much larger. Buy what you see!