In my opinion, being able to buy
something at its fair market value is not something I would go out of my way for.
Not exact matches
When you wrote that you would sell
something only if you had a better opportunity, it sounds different from a traditional
value investor (buy
at a discount to
fair value and sell when it approaches
fair value, all assuming you can determine a
fair value that the
market is not properly recognizing).
It's also important to point out that while some courts have interpreted actual cash
value to be equal to
fair market value (i.e. the amount of money you could get for a vehicle if there were no time constraint based upon the sale), in most cases insurance companies look
at it as
something closer to the amount of money you could get for a car or truck if you sold it today.