Difference between the book value and the market equity value!

"Specifically, the book value of assets is the price paid for the assets, reduced by depreciation over time. Likewise, the book value of liabilities reflects  the  liabilities  when  they  were  first  obtained.  The  difference between the book value and the market equity value is that book value is often based on a historical cost, and the latter is the “up-to-date” assessment of the value of the assets minus liabilities."

Difference between the book value and the market equity value!

Earnings do not drive stock prices!

"Prior research shows that earnings do not drive stock prices, as one would expect, and that the stock market on a long-term basis focuses on management’s impact on the cash flow growth rather than pure accounting earnings."

Earnings do not drive stock prices!

An analyst needs to be as inquisitive as a police detective!

"An analyst needs to be as inquisitive as a police detective—and as probing and as suspicious. An analyst never should get complaisant during bull markets or be so doubting during bear markets as to lose sight of the long-term opportunities."

An analyst needs to be as inquisitive as a police detective!