Kai Wu, founder & CIO of Sparkline Capital, sits down with Dan Rasmussen, partner at Verdad Advisers, to discuss his research on intangible moats as a game changer to value investing. Through alternative data extraction methods, Wu seeks to uncover alpha from company talent, culture, and technological innovation. They examine the disruptive nature of companies with invaluable intangible assets and explore the idea that intangibles provide excess stock return for innovative companies. Filmed on September 8, 2021.