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Strategies & Market Trends : Value Investing
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bruwin
Lance Bredvold
S. maltophilia
To: bruwin who wrote (77533)5/6/2025 12:44:38 PM
From: E_K_S3 Recommendations  Read Replies (2) of 78750
 
Re: Goodwill & write downs of intangible assets

This is/has always been difficult w/ our Value & tech buys. Especially on turn arounds w/ a new management. We typically see a 'Kitchen sink' quarter where new management does all of their write downs and shareholders then sigh and believe that's behind us. Then we are surprised to see more write downs the next quarter and maybe even more as the restructure moves get done.

Saw this with LEG but not so much now (especially w/ their latest earnings report) as they are almost a year into their restructure. However, other Value Buys I have held, was surprised to see huge write downs especially in Goodwill.

I have come to the realization that GOODWILL is a worthless asset. When evaluating any deep value play, one might as well expect that Goodwill to be written off. Then stated BV will be much less. Buyer beware.
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