I know its a general question but where do you start with value investing and finding undervalued companies? There must be a quick way to find a list of undervalued good companies? Thanks
There obviously is not such a list of companies, because if there were the whole world would immediately invest in them. Their price would rise like a rocket and they would not be undervalued anymore.
Some people think company A should be worth x per share, some people think it should be worth y. If the share price is currently higher than what someone thinks it should be, they sell it, and if it is lower than they think it should be they buy it.
The grand effect of this all is that the current market price of the share is more or less the average of what all investors together think it should currently be worth.
If you buy a single stock, hoping that it's undervalued and will rise, you may be right but you may equally well be wrong. It's smarter to diversify over lots of stocks to reduce the impact of this risk, it evens out.
There are "analysts" who try to make a guess of which stocks will do better, and they give paid advice or you can invest in their funds -- but they invariably do worse than the average of the market as a whole, over the long term.
So the best advice for amateurs is to invest in index funds that cover a huge range of companies and try to keep their costs very low.