Why You Don't Invest in Individual Stocks

We don't buy individual stocks because we think companies are going to grow, because the price orte reflects that growth. The intrinsic value of a stock is all those future cash flts, all those future earnings, imbedded in the one price. This is what it's worth based on the consensus growth estimates of that company. And so having spent years researching money managers whose full time job is to find stocks like that, i realize how incredibly difficult it is. I don't have the skill set to figure out why everyone else is wrong and i'm right. So if i'm going to buy the stock, the underlying idea is that i think everyone other is wrong, that the consensus