With much good will...

In the balance sheets of the 600 largest listed European companies, goodwill of approximately 1.9 trillion is now piled up. Euro. This entails risks.

This record level is an expression of structural change in the economic world, but also of a lack of opportunities for real investment, accounting discretion and, last but not least, of ultra-loose monetary policy. With the increasing relevance of goodwill, investors are increasingly focusing on the question of the value of this balance sheet item.

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