Yes you are correct. I use fundamental or intrinsic value in the financial sense. That relies on summing the future income and then discounting it to the presen

Yes you are correct. I use fundamental or intrinsic value in the financial sense. That relies on summing the future income and then discounting it to the present value. As a $20 bill has no future income, it has significantly less value than $20 invested in even a government bond.