> If your calculations say it's likely to be a good investment for you then that holds even if the company is public. No, it doesn't because you still have to

> If your calculations say it's likely to be a good investment for you then that holds even if the company is public. No, it doesn't because you still have to buy and sell your shares on the stock market, and if you do that at a time when the company is grotesquely overvalued you could end up losing money over a quite long timeframe. And even in a normal case the "noise" of the stock market can easily neutralize the advantages of your fundamental analysis.