Capitalized intangible asset intensity (excluding goodwill) as a proportion of total assets doubled from 1994 to 2018; R&D expenses as a proportion of total revenue increased by 50% over the same period; while SG&A expenses as a proportion of total revenue remained quite stable.
factualpending
Speaker
Jacob PizarEvidence Quote
“from 1994 to T to 2018 um that measurement as a proportion of assets actually um doubled um so it was a substantial increase”
Source
Redefining Value Investing in a Magnificent Seven Dominated World | Jacob Pozharny— Excess ReturnsCreated: 8/11/2026, 6:50:32 AM
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