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.
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"An Artistic Impression" (1909) n Style and Idea (1985), p. 190Arnold Schoenberg
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A weakness of the random-walk model lies in its assumption of instantaneous adjustment, whereas the information impelling a stock market toward its "intrinsic value" gradually becomes disseminated throughout the market place.
Richard Arnold Epstein
Writing ought either to be the manufacture of stories for which there is a market demand — a business as safe and commendable as making soap or breakfast foods — or it should be an art, which is always a search for something for which there is no market demand, something new and untried, where the values are intrinsic and have nothing to do with standardized values.
Willa Cather
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
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.
Warren Buffett
Anything new will have to come along with the type of revolution that came along with Unix. Nothing was going to topple IBM until something came along that made them irrelevant. I'm sure they have the mainframe market locked up, but that's just irrelevant. And the same thing with Microsoft: Until something comes along that makes them irrelevant, the entry fee is too difficult and they won't be displaced.
Kenneth Thompson
Schoenberg, Arnold
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