We are bridging the gap between the world's oldest currency and its newest, offering new and existing customers the means to exchange and diversify digital currency for a real,
tangible asset which they can store and trade at Sharps Pixley.
Owning property is unlike any other
tangible asset which consumers are likely to purchase in their lifetimes.
Intangible assets are those assets which areamortized as compared to
tangible assets which are depreciated.
Not exact matches
The details of the capital requirements under Basel III are complicated, but generally speaking, deposit - taking institutions such as Canada's banks will have to maintain
tangible common equity,
which includes things like cash, equal to 4.5 % of their
assets plus an additional buffer of 2.5 %, for a total of 7 %.
That includes cutting
assets,
which should help improve ROTNAV (return on
tangible net
asset value.)
By owning Enerplus, you own oil and gas, a valuable
tangible asset, in Canadian dollars,
which stand to appreciate further against the U.S. dollar.
If a recession happens to be accompanied by the chance of rising inflation —
which is not a given — you might want to consider investing in some sort of
tangible asset that is likely to be unaffected by a drop in the purchasing power of the dollar.
Upon closing of this offering, we will record $ million as an increase to the liabilities due to existing owners under certain of the TRAs, see «Notes to Unaudited Pro Forma Consolidated Balance Sheets,» and in the future we may record additional amounts as additional liabilities due to existing owners under the five TRAs, such amounts collectively representing our estimate of our requirement to pay approximately 85 % of the estimated realizable tax benefit resulting from (i) any existing tax attributes associated with interests in Desert Newco, LLC acquired in the Reorganization Transactions and the exchanges described above, the benefit of
which is allocable to us as a result of the same, (ii) the increase in the tax basis of
tangible and intangible
assets of Desert Newco, LLC resulting from the exchanges as described above and (iii) certain other tax benefits related to entering into the TRAs, including tax benefits related to imputed interest and tax benefits attributable to payments under the
Intangible
assets such as goodwill, patents, trademarks, etc., are more difficult to value,
which is why Graham focused on
tangible assets.
When estimating the liquidation value, Graham focused on
tangible assets — property, plant and equipment — the value of
which could be reasonably estimated.
Unsecured personal loans carry no collateral
which means they are not guaranteed by any
tangible asset.
This analysis does not even take into account the value of Aviat's long - term
assets of $ 61 million, or $ 1.02 per share,
which, when added to net current
assets of $ 3.35 per share, equates to
tangible book value of $ 4.37 per share.
Yes, I said liability... Buchans» only
tangible asset to date is CAD 1.7 mio of cash,
which doesn't go far when you're funding a 2.8 mio annual cash burn.
The liquidation value of a business is a conservative assessment of its worth in
which only
tangible assets are considered and intangibles, such as going - concern value, are not.
v) Lenders: Argo has $ 23.6 million of net cash & fund investments, and overall net
tangible assets of $ 28.5 M —
which should provide sufficient collateral for (say) a $ 10 - 14 million loan, at a reasonable interest rate.
[NB: i) Church House's Argo stake is held by the Deep Value Investments Fund, managed by Jeroen Bos — if you haven't read it already, I can highly recommend his recent book «Deep Value Investing», ii) XXX Capital Management is a well - known European hedge fund,
which hasn't publicly disclosed a holding in Argo to date, hence the redaction — Argo management are obviously aware of their shareholding & support, and iii) the letter was based on a GBP 14p share price & a higher GBP / USD rate — at the current 13.875 p price and exchange rate, Argo now trades at a 36 % discount to net cash and investments, and a 47 % discount to net
tangible assets.]
Owning
tangible assets leads to the ability to obtain other loans at better interest rates
which you would not have had access to otherwise.
YHOO has a market cap of around $ 15.9 B and
tangible assets of around $ 5.5 B, including around $ 3.2 B in cash,
which means it is not undervalued on an
asset basis.
In YHOO's case, most of the
tangible asset value is in the Cash and Short Term Investments
which we don't write down ($ 3.2 B or $ 2.32 per share) and Long Term Investments (carried at $ 3.2 B or $ 2.31 per share),
which we've only written down to $ 3B or $ 2.19 per share for reasons we'll explain below.
Our bias for
tangible over intangible
assets will almost certainly lead us to a lower valuation for YHOO than another investor with a preference for intangible
assets which generate earnings or cash flow.
Ebix as a company has some great fundamentals and, I agree, the share price currently does not reflect this, but it doesn't have the kind of «balance sheet» margin of safety that I look for; I like to see the market price below
tangible asset value,
which is not the case here.
There's less of the blatant copy and pasting of
assets evident in Milestone's WRC games
which gives them a more natural flow, and unlike previous games in the series you can feel a
tangible difference in traction across the various surface types when your tyres are treated to tarmac, gravel, sand or snow.
The president of Venezuela, President Nicolas Maduro, announced the launch of a cryptocurrency
which will be backed by
tangible assets such as oil, gas, or diamond and gold reserves.
«Swarm is one of the premier projects in the blockchain space and a true pioneer in offering a
tangible solution to one of the biggest problems faced by cryptocurrencies,
which is linking crypto
assets with real
assets, with full regulatory compliance, ¨ said Dominik Zynis, Head of Communications, WINGS.
The
tangible and intangible
assets of native title, including the acknowledgement of Indigenous Australians» traditional ownership of land and inherent rights, legally recognised rights and interests in land, the opportunity to negotiate agreements and the national NTRB structure, provide a foundation on
which economic and social development for traditional owners can be built.
Investors these days are looking for
tangible assets that are less volatile than the stock market, but
which also provide yield and capital appreciation.
Tangible asset — unlike shares
which you can not see it where real estate is made of bricks and mortar
which you can see.
The Hispanic Wealth Project is a plan to build a blueprint for Hispanic wealth creation: to identify the specific
assets in
which Hispanic wealth can be accumulated, to support Hispanic access to such
assets, to guide the stewardship of such
assets, and to begin a dialogue around wealth for Hispanic communities that raises ambitions, brings focus to pursuits that may lead to greatness and embraces the
tangible metrics by
which Hispanic achievements can be counted.