This' capitalapproach 'focuses onwealthaccountingandindicators of genuine (oradjustednet) saving, the amountof saving over and above the valueoftotalassetconsumption.
Bank stocks sold in single digits, which is where we all believed they belonged, at netasset value adjusted for Third World loans and sour real estate paper.
ProLogis has bested the others in the appreciation of its properties' worth, called netasset value, and in growth of earnings, whose REIT version is known as adjusted funds from operations (AFFO): net income plus depreciation, minus one-time items and maintenance outlays (see table).