How to Identify Underpriced Intangible Assets

"We're not going to try to trade stocks or identify securities that are mispriced on the basis of a price earnings or price to sales, or any kind of shorthand for valuation," he says. "If you take a step back and you have an intentionally longer term point of view, you can actually a come to radically different conclusions about what the future state of the world is likely to look like relative to others" The company underwrites its positions over a five year perspective so it's able to identify really radically underpriced securities. 'Intangible assets are very difficult to understand, how much casa can generate'