Warren Buffett Intrinsic Value Quotations

The critical investment factor is determining the intrinsic value of a business and paying a fair or bargain price.

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.

Market prices for stocks fluctuate at great amplitudes around intrinsic value but, over the long term, intrinsic value is virtually always reflected at some point in market price.