Free Download The Intangible Investor: Value Investing in Software Companies by Randy Saaf
English | February 18, 2024 | ISBN: N/A | ASIN: B0CVZCMBBN | 149 pages | EPUB | 1.42 Mb
Have you ever wanted to apply the value investing techniques of Warren Buffett and Ben Graham to modern high technology and growth businesses?
Warren Buffett is widely accepted as the best investor of all time. However, the value investing technique he learned from Ben Graham and mastered with Charlie Munger seem harder and harder to apply in an increasingly technology driven economy.
Successful investor and entrepreneur, Randy Saaf, whose companies have sold for $400 million, lays out a systematic approach for applying traditional value investing to high technology companies. This is a practical investing book full of case studies on real-life investment decisions.
The title of The Intangible Investor is a nod to the seminal securities analysis book, The Intelligent Investor, by Ben Graham. The Buffett/Graham value investing style has historically produced outsized returns, but until now, it has not been updated to the modern world of high technology.Value investing has underperformed in the past decade, and many investors believe value investing’s best days are behind us. Value investing techniques must be updated to account differently for intangibles like software.The challenge with the traditional methods of securities analysis for intangibles is that accounting rules were largely created around physical goods. Most of the value being created today is in intangibles, like technology and software. Computer algorithms will create compounding returns on investment over the next century.This book evolves traditional value investing strategies to deal with an increasingly technological economy.This comprehensive guide will teach you:What an intangible asset is.Why software is accounted for as an intangible.Why most investors do not understand intangible accounting.Why intangibles create the most overlooked investing opportunities.How to value intangibles and which are the most valuable.Why many "growth" companies are really "value" investments when you properly value their intangible assets.A practical, systematic technique to evaluate high technology companies as investments.Intangibles neither decay nor rust. However, they are often treated in the harshest of terms on income statements and balance sheets. This is despite most of the world’s assets morphing into intangibles as the economy becomes increasingly technological. Readers will gain the practical skill to value intangible assets through the lens of a traditional Buffett/Graham value investor to find hidden investment gems others are missing.