By reading about many investors I have realized that looking at an investment case from different angles and perspectives unearth insights which can be very valuable. For example, in a simple DCF framework we value a company only based on its long term cash flows. However, the assets of the company could be used for something totally different and unrelated which can create more value.
There was a story I read about a chain restaurant which was struggling only to be eventually taken over by a smart guy. He sold some of the locations and rented out some other as office space etc. The assets therefore were acquired by the guy who could bring out the maximum value in them. I came across an article in the blog Basehitinvesting which to me was a very interesting way of looking at a company. Instead of trying to find undervalued companies we could try to identify undervalued products and back calculate to see if the company looks undervalued if pricing of the product is maximized.