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The Coca-Cola Company Message Board

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  • Novalis_97 Novalis_97 Apr 3, 1998 10:33 PM Flag

    Buffett on Value

    I never said a dealer's invoice had anything to do with intrinsic value. I said that KNOWING WHAT THE INVOICE IS helps you determine whether you're paying a fair price for the car or paying too much. Similarly, knowing the intrinsic value of a company's stock before you buy it helps you determine whether you're buying the stock at a bargain or overpaying. This is a very simple concept.

    Believe me (I used to sell cars), it is to the salesman's advantage that you not know the car's invoice. On the other hand, it is to the car buyer's huge advantage to know the car's invoice when negotiating a price.

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