Skip to main content

Increasing intangible investment – implications for equity prices

If corporate expenditure on intangible assets is treated as investment, rather than as an expense, the US stock market appears much less overvalued than traditional barometers of “fair” value suggest. While this does not preclude equity prices from falling, it could limit the downside.

Become a client to read more

This is premium content that requires an active Capital Economics subscription to view.

Already have an account?

You may already have access to this premium content as part of a paid subscription.

Sign in to read the content in full or get details of how you can access it

Register for free

Sign up for a free account to gain:

  • Unlock additional content
  • Register for Capital Economics events
  • Receive email updates and economist-curated newsletters
  • Request a free trial of our services


Get access