We bought someone's business once. Everything they told us about the intangibles was a complete lie. All of their financial statements were cooked. Their client list included all clients they've lost over ten years. Their assets were valued at new replacement costs. I can go on...
The goodwill is always my favorite part of the valuation...
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"An idea is always a generalization, and generalization is a property of thinking. To generalize means to think." Georg Hegel
“To generalize is to be an idiot.” William Blake
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