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by WastingMyTime89 1652 days ago
> Valuation is the estimation of the present value of future free cash flows.

That’s only DCF valuation. It is not the be all and all of valuation. DCF is a way to value perpetuity. It makes sense for assets you can assimilate to a perpetuity (like a company). It makes no sense if you can’t. The easiest counter examples are raw materials and currencies.