Every asset that has a cash flows will have an intrinsic value and from the intrinsic value you can compute intrinsic PE irrespective of small or mid or large cap.If value investing requires you to invest with a MoS,the prerequisite is you should know how to compute value first and then compare with price and take a call on buying or not. I just referenced PE for easy understanding and EPS just doesnt incrase 2 or 3 times just like that..What you cant measure yoi cant controls as stated by WB. If one dont know what the industry might look like then any number will fly and any value can be justified
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