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URL:  http://boards.fool.com/the-most-important-thing-you-can-take-away-from-29091842.aspx

Subject:  Re: Discounted Cash Flow Model - Negative FCF Date:  2/9/2011  1:56 PM
Author:  TMFValuemoosie Number:  1643 of 1670

The most important thing you can take away from this sideways discussion is that the journey is more important than the model or its output. Every model I build is founded on that premise. I want to know what makes that company tick and building the model is an excuse to, parse their three sheets, dig through notes, read press clippings and read analysts reports. The goal of all that legwork is to build a model that reflects the company, has inputs and outputs that are meaningful in relation to that company.


Well said, Jack. I wholeheartedly agree.
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