There’s more than one way for a sell-side analyst to figure out a company’s “fair” value — and trust me, some of them are way more useful than others. First up: the DCF method. It’s like building a super-complex LEGO set — tons of tiny pieces (assumptions) that might fit together perfectly… or not. This complexity opens the door for biases: overconfidence (“I’m sure my model is right”), hindsight bias (“I totally saw this coming”), and anchoring (“Let’s just stick close to that first number we guessed”). Oh ...