A Hundred Days Of This - Day 65

"The biggest damage to valuation comes from how analysts and investors react to uncertainty, not its presence. Instead of facing up to uncertainty and using the statistical, financial and probabilistic tools that we can use to deal with it in a healthy fashion, the more common responses seem to be denial i.e., acting as if uncertainty does not exist, or paralysis, where you stop valuing companies during crises, or if the companies are young start-ups, with the excuse that valuation is pointless in the face of uncertainty. We believe that the payoff to doing valuation is greatest when times are darkest, and when uncertainty looms, since even an imprecise valuation is better than not doing valuation at all!"

- Ashwath Damodaran, Investment Valuation, 4e, pg no 41-42

This is not about valuation. Think harder.

And that's Day 65 for you!