Michael Mauboussin on How to Read Stock Prices (Podcast)
Masters in Business
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The Shift from Tangibles to Intangibles in Investment
This chapter examines the evolving investment landscape, emphasizing the significant increase in intangible assets over tangible ones as a measure of corporate value. It discusses how traditional financial metrics fail to accurately gauge the true health of companies investing in intangibles, advocating for a focus on free cash flow as a more reliable indicator. Additionally, the chapter explores market trends and innovation cycles, linking historical patterns with current phenomena such as meme stocks and technological advancements.
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