Intangible Value

Value investing has struggled over the past decade. We believe this is due to its failure to incorporate intangible assets, which play an increasingly crucial role in the modern economy. We consolidate our prior research to construct a firm-level measure of intangible value. We find that expanding intrinsic value to include intangibles can help restore value investing to its former glory.

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Wu, K. 2021, Intangible Value

Source: https://www.sparklinecapital.com/post/intangi...