What are some potential challenges in value investing?

The economic environment can greatly impact value investing. In a strong economy, companies may perform well, increasing their intrinsic value and potentially providing good investment opportunities for value investors. Conversely, in a weak economy, companies may struggle, which could decrease their intrinsic value and make them less attractive to value investors. However, a weak economy could also present opportunities for value investors to buy stocks at a discount if they believe the company's intrinsic value is higher than its current market price.

Key financial indicators to consider in value investing include the company's income statement, balance sheet, and cash flow statement. These can help you determine whether a company meets your investment criteria.

Value investing can be applied to different industries by analyzing the financial statements of companies within those industries. This involves understanding the Income Statement, Balance Sheet, and Cash Flow Statement of each company, and using this information to determine if the company meets your investment criteria. It's important to note that the key financial indicators may vary from industry to industry.