Mauboussin argues that typical valuation methods like P/E and EV/EBITDA are getting worst at reflecting the real economic picture of a company due to the rise of intangible assets on balance sheets. The Microsoft example is really shocking. https://t.co/BY3AXUwfhN

New Mauboussin paper. https://t.co/oUfD48PiBu https://t.co/NgnB40HVtp