Business

New way to value stock?


(BLOOMBERG) – The higher stocks go, the louder the forecasts for their demise. Prices are hopelessly stretched, warn the naysayers – the gains aren’t justified by earnings.

But to a growing number of investors, the problem is not bloated valuations. It is that longstanding accounting standards mis-classify billions of dollars of cash-cow assets as if they’re drags on businesses.

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