CHASING A STOCK'S ELUSIVE INTRINSIC VALUE ?

1. It's a common myth that we have to get to the intrinsic value of a stock in investing.
2. Firstly, calculating how much cash a company can generate during its balance lifetime is fraught with pitfalls.
3. Secondly, even after managing an estimate, discounting it is a grey area, with a lot of subjectivity, about what rate to use.
4. Thirdly, intrinsic value must be changed with movement of interest rates or when cash flow forecasts are revised. 
5. As there isn't any "pure" objective system for estimating correct value of businesses, hence the difference between the likes of Warren Buffett and other investors.