"Ah yes, the old Buffett standby, "intrinsic value." Loosely put, intrinsic value is the value of a company or asset based on the underlying perception of its true value including all aspects of the business in terms of both tangible and intangible factors.
In other words, who cares what anybody would actually pay for those Kraft and Wells Fargo assets? What Berkshire investors should remember is how valuable Buffett really thinks they are."
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