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|Subject: Re: Selecting stocks the Ben Graham way||Date: 12/9/2004 7:05 PM|
|Author: StarryNightShade||Number: 34810 of 46872|
Thanks for the recommendation.
You're right book value doesn't include intellectual property; and it's difficult to show the relationship between amount of $ invested to get the "bright idea" and the value of the "bright idea". If only it were simply a case of pouring more money into R&D. Of course, it's much easier to value intellectual property of proven value than that which is still only promising. "If only", the drug companies say.
It's an interesting topic, but I don't think there's a solution that'll satisfy most investors - never mind becoming accounting practice.
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