Bloomberg article today: Are corporate earnings incredibly understated- as in $ Trillions?
I have mixed feelings about Prof. Lev’s theory- aren’t you just frontloading the cost of these intangibles into early years resulting in higher profits on books later, so it “all comes out in the wash?” https://www.bloomberg.com/news/articles/2018-06-06/what-s-a-stock-worth-in-new-economy-accounting-has-its-critics On paper, Autodesk Inc. is a …