Why I Don't Pay Attention to Stock Valuation at All

Imagine you're going to buy something new: a bike, a car, a house. No matter what it is, one question bound to cross your mind is, "How much will this cost me?"

For most investors (especially beginning investors), it's no different. Whether it's the actual price of a share, or a valuation metric like price to earnings (P/E) or price to sales (P/S), everyone has to consider valuation...right?

On the surface, it seems obvious. But the longer I've been investing, the less attention I give valuation. In fact, these days, I spend zero time on valuation. Below, I'll explain why that is, how I can still feel comfortable making good stock picks, and why I don't think my approach will lead to a dot-com-esque outcome.

Source Fool.com