An Institutional Overview of Mineral Valuation Methods

Portfolio management tends to separate the functions of Asset Allocation and Stock Selection, so the person responsible for reviewing an expert's report on a company would typically be choosing between companies rather than between a company and cash or bonds. How these choices are made depends on the investment time horizon, philosophy and style. Two styles, momentum investing and value investing are contrasted and the role of valuation methods within the framework of each style is evaluated. Finally, pricing is distinguished from valuation.