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Reflections on Buffett’s Famous Essay, ”How Inflation Swindles the Equity Investor”

This Week in Intelligent Investing

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The Most Valuable Intangibles Assets of All Time

The one theory is that corporate America's had this huge amount of earnings and value generated by fully depreciated assets. That's apparently enough to potentially offset the things that need to be replaced more quickly but then as to your point, Elliot, I'm sorry, this is so long winded. But what about intangibles right because you don't expense anything for the maintenance spending on intangibles? And it's a big number though and the problem is is that by the time you find out that you've been spending too little, it's way too late. Does that, does that all make sense?

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