Intrinsic value can be defined simply: It is the discounted value of the cash that can be taken out of a business during its remaining life. The calculation of intrinsic value, though, is not so simple. As our definition suggests, intrinsic value is an estimate rather than a precise figure, and it is additionally an estimate that must be changed if interest rates move or forecasts of future cash flows are revised.
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Berkshire Hathaway Inc.: An Owner's Manual (1999)Warren Buffett
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The power to distinguish between person and performance and to communicate intrinsic worth flows naturally out of our own sense of intrinsic worth.
Stephen Covey
Market value is irrelevant to intrinsic value. ... Unqualified judgment can at most claim to decide the market-value — a value that can be in inverse proportion to the intrinsic value.
Arnold Schoenberg
But whilst there may be intrinsic reasons for the scarcity of land, there are no intrinsic reasons for the scarcity of capital.
John Maynard Keynes
To the existence of banks of discount for cash... there can be no objection, because there can be no danger of abuse, and they are a convenience both to merchants and individuals. I think they should even be encouraged, by allowing them a larger than legal interest on short discounts, and tapering thence, in proportion as the term of discount is lengthened, down to legal interest on those of a year or more. Even banks of deposit, where cash should be lodged, and a paper acknowledgment taken out as its representative, entitled to a return of the cash on demand, would be convenient for remittances, travelling persons, etc. But, liable as its cash would be to be pilfered and robbed, and its paper to be fraudulently re-issued, or issued without deposit, it would require skilful and strict regulation.
Thomas Jefferson
When it comes to labour market reform, here's the difference between us and John Howard: John Howard regards labour as just like any other economic commodity. We actually see labour as made up of human beings. These are human beings with an intrinsic dignity. When they go to the workplace, they're not just like a lump of wood or a piece of coal, these are human beings, and they should be treated properly as people with intrinsic rights.
Kevin Rudd
Buffett, Warren
Buffon, Gianluigi
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