Valuing a company involves not only crunching numbers and predicting cash flows but also looking at the general, more subjective qualities of a company. he backbone of any successful company is strong management. The people at the top ultimately make the strategic decisions and therefore serve as a crucial factor determining the fate of the company. Investors can simply ask the standard five Ws: who, where, what, when and why? You should know who its CEO, CFO, COO and CIO are. Then You need to find out where these people come from, specifically, their educational and employment backgrounds. Ask yourself if these backgrounds make the people suitable for directing the company in its industry. After that, ask about what is the management philosophy? You can discern the style of management by looking at its past actions or by reading the annual report's management, discussion & analysis (MD&A) section. Ask yourself if you agree with this philosophy, and if it...