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Michael Mauboussin Master Class — Moats, Skill, Luck, Decision Making and a Whole Lot More
Acquired
Intangible Investments - What Are They?
Tangible andtangiblee basic distinctionis exactly what you what it sounds like. Intangibles ore things that are not physical. So the big buckets class, research and development, branding. But today you think a lot about custom acquisition costs and all that kind of stuff. The idea that intangibles are investments is sort of like inherent. It just doesn't show up in the right place in your financial statements.
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