AI-powered
podcast player
Listen to all your favourite podcasts with AI-powered features
The Impact of Intangible Assets on Valuations
This chapter explores the discussion on the impact of intangible assets on the valuation of big tech companies. The speaker argues that the fixation on tangible versus intangible assets is unnecessary, as both can generate cash flows and deliver value. They emphasize the importance of focusing on expected cash flows rather than the nature of the assets.
On today’s episode, Clay Finck is joined by Aswath Damodaran who is widely referred to as the dean of valuation.
Aswath Damodaran is a professor at NYU of corporate finance and valuation and has taught thousands of students how to value companies and pick stocks. He has written numerous books on valuation and has also made all of his university courses available online for free. Aswath is one of the clearest teachers of finance and investing in the industry.
IN THIS EPISODE, YOU’LL LEARN:
00:00 - Intro.
01:42 - Whether recent technological advances should lead us to think about investing. differently than in years past.
03:23 - The role intangible assets play into valuation.
07:08 - How he determines which companies he wants to dive in and research.
14:40 - How Aswath thinks about setting an appropriate discount rate in valuation.
20:49 - His thoughts on whether investors should deem the US treasury rate as the risk free rate available to investors.
24:10 - The future expected return of the S&P 500 implied by the market as of August 2023.
27:29 - How Aswath thinks about the risks of investing in China.
30:02 - Aswath’s updated views on the valuation of Nvidia & Meta.
33:21 - The potential dangers of a buy and hold approach.
47:31 - How to think about using adjusted EBITDA in stock analysis.
49:44 - How Aswath thinks of the macro.
57:16 - Why Aswath recommends a strong understanding of statistics to invest well.
Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.
BOOKS AND RESOURCES
SPONSORS
Support our free podcast by supporting our sponsors:
Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm
Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm
Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm
Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm
Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm
Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm
Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm
Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm
Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm
Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm
Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm
Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm
Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm
Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm
Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm
Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm
Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm
Learn more about your ad choices. Visit megaphone.fm/adchoices
Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm
Listen to all your favourite podcasts with AI-powered features
Listen to the best highlights from the podcasts you love and dive into the full episode
Hear something you like? Tap your headphones to save it with AI-generated key takeaways
Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more
Listen to all your favourite podcasts with AI-powered features
Listen to the best highlights from the podcasts you love and dive into the full episode