In Shoe Dog by Nike co-founder Phil Knight, he describes how the banks kept refusing to borrow them money because they refused to value based on future cash flows. Eventually, Nike switched to another bank. The first bank could have made a lot of money there.

In general, even Buffett after years of very conservative valuations (Sigar Butt Investing) switched to "buying great companies at fair prices". Why would you buy a company that barely keeps up with inflation if you could buy one that literally grows exponentially. If you hop from Sigar Butt to Sigar Butt, you can also grow your money exponentially, but it's harder because you pay more taxes, brokerage fees, and have to work more on finding the right enters and exits. Conversely, if you are as clever as the Nomad Investment Partnership and just only bought and hold Costco, Berkshire, and Amazon from 2005 to now, you would have gotten great returns on investement without having to do a thing.