Justin Howell

Justin Howell, the lead portfolio manager of TD Epic's U.S. value team, shares valuable insights on value investing and the nuances of intangible assets. He discusses how GAAP accounting often undervalues companies rich in intangibles like software and branding. Howell also explains the evolving metrics for valuation, emphasizing free cash flow and ROIC over traditional measures. Additionally, he highlights the impact of AI on business models, using mega-cap firms like Amazon and Netflix as examples of successful high-multiple investments.