The cornerstones of Warren Buffett’s investment strategies are based on some of the basic techniques we learned in our finance courses. He evaluates companies by assesses the opportunity costs and the time value of money. He reviews their financial statement - their ‘accounting reality’. Buffett also attempts to determine the companies’ intrinsic value. Why is that exercise important? What is the intrinsic value of a company? In your opinion, are Warren Buffett’s investment strategies still relevant?