Same literature, different assumptions on how easy it is to predict cashflows or how to even go about it. A DCF is after all, discounting future cashflows. If

Same literature, different assumptions on how easy it is to predict cashflows or how to even go about it. A DCF is after all, discounting future cashflows. If it's all as simple as you say - really - just go start a hedge fund. You can start an LLC in a day, throw some money into a brokerage account and be up and running. There are still plenty of LPs who will invest in a simple long only fund, even with vol, as long as the performance is good.