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"Really? I remember reading that Charlie Munger has said that he's never seen Buffett run a DCF analysis."

Munger commented on Buffett never doing a spreadsheet or writing it out. That does not mean that isn't how he thinks about them.

Both have said many times though that is how they think about investments.

As for Buffett emphasizing qualitative aspects of a company over financials, I don't disagree. The high the quality of company, the higher the assurance you can put into the estimates of future cash flows.
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