Every time FLG has had to value a stock for some sort of class project, he's always come away from the exercise with a renewed amount of skepticism about the entire endeavor. FLG's attempts are always founded upon a variety of WAGS. Consequently, he fears that the professionals are merely producing SWAGs.
FLG does know some equity analysts. They do have insight into various industries. So, maybe it's not entirely SWAGs. But on the other hand they also tend to latch onto the one or two metrics for that industry and fall into the industry groupthink, which is another problem.