I built an Excel file with a valuation model using Warren Buffett’s measure of “owner’s earnings.”  In an interesting spin on valuation, analysts at AquaResearch applied what they call “Buffett-style, owner’s earnings” valuation calculations to the US Bancorp (USB) company stock in a DCF style approach.  The author supports his review with a link to an excel file which completely lays out Warren Buffett’s valuation theory, that eschews traditional models relying on GAAP and/or price-to-earnings ratios.  The analysis does require viewers to “register” at the site, but it’s free and absolutely worth a look at how the number shake out.…