
Ep. 214: Michael Mauboussin | Beating Expectations: The Impact of Loyalty on Corporate Valuations
Customer Confidential: Untold Stories of Earned Growth
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The Basic Unit of Analysis
The rise of intangible investments has made return on invested capital more difficult. Tangible assets go on to the balance sheet and then are depreciated over time. In effect, we treat all investments as if they're tangible; amortize them over time. Unit economics reflect fundamental behaviors of a customer related to a company.
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