1/ Thread: The role of intangibles in valuation I feel like a broken record, but @mjmauboussin and Dan Callahan recently published another intriguing piece titled "One Job". What is "One Job"? To take advantage of gaps between expectations and fundamentals.___LIN... See more

The CFA Institute just published a huge 144-page report on the failures of accounting for intangible assets. "Intangible assets are fundamental to the modern economy but largely omitted from financial statements." Here's a quick recap 🧵