Buffett’s concept of economic goodwill vs accounting goodwill
Sunkenness – intangible investments tend to be worth less if they go wrong
accounting goodwill
The fading usefulness of book value
Book Value – Ain’t what it used to be – With the rise of company investment in intangibles, book value is losing its relevance.
Something over 80% of the market capitalization of the S&P 500 is made up of intangibles. Only a fraction of that appears on balance sheets.
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