Conglomorates may be poor at allocating capital.
FinanceProfessor.com: How 1+1+1+1 Can Equal Less Than 4 - New York Times
The other example that is used is the one of the used car that can be sold for less than the sum of its parts. The specialist knows the value of the parts, but the layperson does not and does not have the time to find out.
Tuesday, November 08, 2005
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