I didn't say what you said I said. I said that what FA has...

I didn't say what you said I said.

I said that what FA has become is mere mechanical investing - that is not what Graham teaches at all.
Sure he has a couple of shorthand formula, and some have use that to mean that he's a mechanical guy... I don't take that away from Graham's overall advise at all.

So FA, like you said, do those one year forecast; uses consensus forecast averages; do discounted cash flow... these are all bs to make themselves appear clever and get to keep their day job.

But yea, investing is simply about understanding the business itself. Financial ratios and whatever else are mere filters to quickly focus on what company to look further into... Once we understand the business, it wouldn't take more than a few seconds to know what to do with the prices on offer.