Just as often as book value overstates true worth, it can understate true worth.

This is where you get the greatest asset plays.Companies that own natural resources—such as land, timber, oil, or precious metals—carry those assets on their book at a fraction of the true value.

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Asset management is the practice of increasing total wealth over time through acquiring, maintaining, and trading investments that have the potential to grow in value.

However, we must keep in mind that asset management has a double-barreled goal which increases value while mitigating risk ...

Let’s say you’ve become convinced of the efficacy of value investing and you’re able to come up with an estimate of intrinsic value for a stock or other asset. Let’s even say your estimate is right. You’re not done. In order to know what action to take, you have to look a...