I think the word "value" is applied rather mindlessly. Something...

I think the word "value" is applied rather mindlessly. Something represents value because it can be expected to deliver you a return that is attractive relative to its purchase price (generally from its intrinsic operations, rather than from how the market might re-rate it). Not because it has a low retrospective or one year forward, PE, EV/EBITDA, PEG or any other ratio/metric.

This especially true when an army of analysts are applying the same tools. To think you have an edge because you know these tools, is to forget that the market is a discounting machine.