I will give you an article to summarise in three parts. Wait for all the parts. After the third part, i want you to explain and summarize the key information. Ok, part one: 

""Taking the following article into consideration, can you advise on the datasets I potentially need to fine tune my llm?: ""Intangible Value
Executive Summary
Value                                investing has struggled over the past decade. We believe this is due to its failure
to              incorporate intangible assets, which play an increasingly            crucial role in the modern
economy.    We consolidate                    our prior research to construct a firm-level measure of
intangible                          value. We find that expanding intrinsic value to include intangibles can help
restore value investing to its former glory.
The Death of Value
The                    building chorus of investors singing of the “death of
value”                  has reached a crescendo. They claim value investors
have        lost the plot, dogmatically          clinging to dying businesses
as                        the world passes them by. Few are listening to the faint
objections                    of value investors, buried in the depths of a
thirteen-year drawdown.
We                        have spent a lot of time thinking about the future of
value                    investing. Ultimately, while we do not believe value is
dead                  - Ben Graham’s framework of buying stocks below
intrinsic                      value is both timeless and sensible - we do believe
that his metrics for intrinsic value need to be updated.
Graham                  established the principles of value investing in the
days                    of railroads and steel mills, when intrinsic value was
almost                  fully tangible. However, over the past century, the
economy    has transformed    from industrial    to informationbased.                Today’s dominant firms build moats using not
physical                but intangible assets, such as intellectual property,
brand equity, human capital, and network effects.
Value                investors should adapt by expanding their definition
of                    intrinsic value to include not just tangible but also
intangible value.
Intrinsic Value = Tangible Value + Intangible Value
While        simple in theory, quantifying        intangibles is actually
challenging            as we cannot rely on standardized    accounting
statements.              While alternative data can provide valuable
insight, they tend to require special tools to process.
Over                    the past year, we have written several research papers
using                  machine learning to quantify specific aspects of the
intangible        economy. This paper consolidates      this sprawling
research into a single firm-level measure of intangible value.  
We                will show that a value strategy that incorporates    this
intangible              value measure alongside traditional metrics (e.g.,
Fama-French) would have avoided value’s recent travails.
Exhibit 1
Value Is Dead, Long Live Value! ✊
Source: Ken French,                  Sparkline. Tangible Value is a long-short portfolio of
the                            top and bottom quintiles of U.S. equities on book value / market value,
market        cap weighted (per Fama-French).            Intangible Value is the same
except        it uses our intangible-adjusted            intrinsic value metric. We exclude
transaction          and financing costs for comparability    to Fama-French.    From
12/31/1959 to 4/30/2021. See important backtest disclosure below.
The Hero’s Journey
Adventures of the Oracle
Before          we get into the construction          of this intangible value
factor,                              we want to tell a story. In this case, it is the story of
Warren                  Buffett, the 90-year old paragon of value investing,
who                    has evolved his investment style over his long career
with the changing economy.
Buffett                      began his illustrious career as a direct disciple of Ben
Graham.                    The father of value investing, Graham was active in
the              industrial age, when intrinsic value was synonymous
with                  tangible book value. Security analysis came down to
assessing                    the value of a company’s hard assets and buying
firms priced below liquidation value.
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June 2021
Kai Wu
Founder & Chief Investment Officer
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Intangible Value | Jun 2021
Buffett                    was a great student and achieved success in applying
his                mentor’s framework. He called it “cigar-butt investing,”
buying                  mediocre companies at bargain prices for that one
last                puff. Berkshire Hathaway, originally a struggling textile
mill, is a perfect illustration.
However,                  with the help of his business partner, Charlie
Munger,                  Buffett gradually evolved his style to instead focus
on                  “wonderful businesses at fair prices.” This coincided with
the                    rise of the great American consumer brands, such as
Coca-Cola.                  Buffett bought Coke not because of its tangible
assets                      (it has very little), but because of its wide intangible
moats - its strong brand and management (human capital).
But                      his journey was not yet done. In 2016, after eschewing
technology                stocks for decades, Buffett made a massive
investment                  in Apple. After delivering a whopping $65 billion
profit,                  Apple now comprises 20% of Berkshire’s entire value.
Buffett                        has called it the “best business I know in the world”
due          not only to its technological          superiority but even more
so to the value of its “ecosystem” (network effects).
Exhibit 2
The Hero’s Journey
Source: Sparkline
The Asset-Light Economy
Buffett                explicitly recognized that the economy had greatly
transformed since the days of his mentor, saying:
“The                  four largest companies today by market value do
not                      need any net tangible assets. They are not like AT&T,
GM,                    or Exxon Mobil, requiring lots of capital to produce
earnings. We have become an asset-light economy."
In              the 1930s, the dominant industries were asset-heavy
railroads,                  autos, oil, utilities, chemicals and steel. Today, the
most                  important industries are asset-light. As seen below, the
percentage            of U.S. public company market capitalization    in
high-intangible                industries has grown from around 0% to
50% over the past century.
Exhibit 3
The Asset-Light Economy
Source: Ken French,                  Sparkline. We manually divide SIC industries into 9
intangible                  industries (hardware, software, chips, drugs, medeq, labeq, hlth,
bussv,              persv) and 40 tangible industries (e.g., transportation,      oil, steel,
autos, chems, utilities, banks, retail, telecom, household). As of 4/30/2021.
Importantly,              Buffett recognized that this economic shift
necessitated                  an expansion of the definition of intrinsic value
beyond                hard assets. Over the years, Buffett has accumulated
several                  intangible “moats,” which he has added to Graham’s
framework alongside tangible value. 🏰
Exhibit 4
Four Intangible Moats
Source: Sparkline
Intangible                  assets are quickly becoming the primary form of
economic                value. Firms with loyal customers, top talent,
innovative            products, and network effects are increasingly
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Intangible Value | Jun 2021
dominating        economic activity. In Investing        in the Intangible
Economy    (Oct 2020),              we conducted an in-depth analysis of
the                    rising role of intangibles. We showed the following chart,
which      provides a (conservative) bottoms-up        estimate of the
contribution                    of intangibles to the capital stock of U.S. public
companies.
Exhibit 5
Can’t Touch This 🔨
Source: S&P, Sparkline. As of 2019.
Intangibles                currently comprise roughly half of the corporate
balance      sheet. More importantly,              this ratio is very likely to
expand                  further in the future. Hard assets will become
increasingly irrelevant as “intangibles eat the world.”
Expanding Intrinsic Value
Let’s return to our original equation:
Intrinsic Value = Tangible Value + Intangible Value
In                        the days of Ben Graham, the final term in this equation
was          a mere rounding error. Intrinsic value    and tangible
value    were functionally            equivalent. However, as we’ve seen,
intangible value                  is a significant and growing part of the
economy and can no longer be ignored.
We                    highly doubt that Graham intended value investors to so
strictly                      adhere to the specific metrics used in his books. The
lessons        are in his frameworks            and mental models. As the
world                    shifts from railroads to airplanes to flying cars, the
principles                  of value investing will always hold. The intelligent
investor                    is one with the mental dexterity to apply these
frameworks to the changing problems of his day.
Quest for Intangible Value
Challenge Accepted
Buffett                      is not the only famous value investor to recognize the
rising      role of intangibles.          In a recent letter, Howard Marks
wrote:
“Value                  investing doesn’t have to be about low valuation
metrics.                      Value can be found in many forms. The fact that
a                  company grows rapidly, relies on intangibles such as
technology                    for its success and/or has a high p/e ratio
shouldn’t                      mean it can’t be invested in on the basis of
intrinsic value.
Many                    sources of potential value can’t be reduced to a
number.        As Albert Einstein purportedly      said, ‘Not
everything                that counts can be counted, and not
everything                  that can be counted counts.’ The fact that
something              can’t be predicted with precision doesn’t
mean it isn’t real.”
Like                    us, Marks argues for a more expansive definition of
intrinsic                  value. He correctly urges investors not to conflate
value        investing with low price-to-earnings      ratios. Such
backward-looking              metrics largely ignore the mostly future
value of intangible investment (e.g., R&D).
Moreover,                Marks urges investors not to ignore important
sources                  of value just because they cannot be measured
precisely.                      We will take up this challenge. We will show that
intangible                value can indeed be quantified, albeit requiring
the      use of non-traditional                data and a little bit of machine
learning wizardry. 🧙
The End of Accounting
“The                  constant rise in the importance of intangibles in
companies’ performance          and value creation, yet
suppressed    by accounting        and reporting practices,
renders financial information increasingly irrelevant.”
- Baruch Lev and Feng Gu, The End of Accounting (2016)
The                        first stop in our quest to quantify intangible value will be
financial              statements. GAAP accounting provides a consistent
and                  structured way for companies to report their financials
over                  time. The problem is that accounting principles were
originally              developed centuries ago and have remained
mostly unchanged despite the rise of the modern economy.
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