What kind of stocks do you invest in? These days, a common answer to this question is simply ‘all of them’. For little cost, you can buy an exchange traded fund to own a broadly diversified equity market. Job done. Well, sort of. If you own a FTSE 100 passive fund, you own a piece
According to the World Intellectual Property Organisation (WIPO), a UN agency, intangibles comprised around 90 per cent of the market value of S&P 500 companies in 2020. How so? Per the report on which it is based, to get to 90 per cent, you simply subtract a company’s net tangible assets (that is, total assets
As Madonna famously noted, we live in a material world. But given the nature of the lines of code, proprietary molecules, and ineffably small microchips that underpin today’s economy, it doesn’t always feel that way. In fact, you might have heard a fancy name for this phenomenon: ‘dematerialisation’. To economists, this is the process of