Asset Plays - The Next Kind of Stock

When I was starting out investing I was drawn to asset plays because it was so nice just looking at the balance sheet and going, okay they have cash or okay they have real estate. Now we're seeing pure asset play when the company is going to liquidate sell everything off and hopefully managers will pay off what they said that they're going to pay to the shareholders after the debt is paid off. Do you think there needs to be a catalyst? There's a risk a risk that like you can judge the value of the asset wrong. Or possibly with something like Sarah didch the value ofthe asset can change as the interest rate environment changes in the real estate is not worth as much.