There's always a strange nervousness that comes with trying to price a company that no one doubts anymore. Unlike those messy, “misunderstood” names that are easy to dig into, a company everyone already likes gives you almost nothing to push back against… except for maybe some far-fetched speculation. And that's exactly why it's the process of digging into those messy names where investors usually find their edge. I'm not talking about those speculative artificial intelligence (AI) infrastructure bets that are clearly overvalued, but those well-established names with the deepest pockets that even the most conservative investors pour money into. With those companies, the bright future has already been imagined for you by everyone else in the room, and it's already baked into the stock