"Price is what you pay, value is what you get," is one of Warren Buffett's best-known quotes. In investing, price and value are not one and the same.
Q4 2019 hedge fund letters, conferences and more
The market price offered is only a reflection of investor sentiment, and it does not reflect the intrinsic value of a business.
The intrinsic value of a business is admittedly a somewhat imprecise estimate of its underlying fundamental value. Still, it is less volatile than the market price, which...