I agree in part. But if you don't TRY to answer the questions, how is it possible to make any meaningful evaluation of whether any stock is worth buying, and at what price?
The "true believers" will say this is a great concept, wonderful people, right idea at right place at right time, etc. Me, I like a stock with a good, believable story, but before I plunk my money down I want numbers, too. The best product in the world is useless if nobody buys it, or if you can't sell it, or if you can't sell it at a profit.
So while one can't expect to get pro formas that will be identical with the actual results a year or two or five out, I, at least, need to make the attempt so I can know that there is a good chance of long-term profitability in the story (and therefore legs under the stock, long-term.) |
