You buy stock so you can sell at some future date to convert it into cash. This means you must estimate future value of the stock. The value investing as it get

You buy stock so you can sell at some future date to convert it into cash. This means you must estimate future value of the stock. The value investing as it gets touted implies that you buy stock given its current value. This is incompatible to the goal of selling stock in future because current value may decline to any arbitrary value. Ford may sell at 1.0 price/book today but it is likely they may to load up on debt down the line OR the value of their assets has lower future value. So value investing doesn't mean great investing as much as several people wants us to believe. Every stock purchase is necessarily a speculation and there is no escape from that.