The Rise of Intangibles and Value Investing

The podcast episode discusses the rise of intangibles and its impact on value investing. The speaker highlights that traditional value investing strategies have not been working in recent years and explores how the economy's transformation has affected the ability of traditional value factors to outperform. Intangible assets such as intellectual property, brand equity, human capital, and network effects are identified as key drivers of value in the modern information age. The discussion emphasizes the need to consider intangible assets in measuring value and investing in innovative companies.