[divbzero]

You and GP are both right but simply referring to different definitions of value investing.

GP is using “value” in the traditional Benjamin Graham sense of companies that are quantitatively undervalued based on current financial statements. This is the definition used on Wall Street for “value” ETFs or mutual funds.

You’re referring to Warren Buffett’s expanded definition of “value” as any company priced below intrinsic value, which can include qualitative judgment of future growth.

You both make the point that Buffett’s approach deviates from the traditional Wall Street definition of “value”.