Conglomerates
topic on 5 shows · 5 statements across 5 episodes
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5 statements about Conglomerates, every show
Conglomerates create growth flywheels via earnings-multiple arbitrage
“If your stock traded at a higher multiple than your target, you could buy their earnings and instantly improve your own. Do this repeatedly, and you could create growth impossible through operations alone. Growth was rewarded with a higher share multiple, crea…”
O'Driscoll: Megafund conglomerates make it harder for mid-sized VCs to win
“I do believe the impact of the conglomerates has made everything harder, including it's harder for us to make money.”
Ballou: Private equity is the latest flawed 20-year financial model cycle
“We lawyers have this incredible ability to invent a flawed business model every 20 years. Right now, I would argue that it's in large part private equity. 20 years ago, it would have been subprime lenders. 40 years ago, it would have been SNLs. 60 years ago, i…”
Friedberg: Activist-driven conglomerate breakups will boost stock prices 20% to 30%
“So I think it'll, it'll continue to, and you could probably go and pick a bunch of these conglomerates and you'll see the activist shareholders doing this. They'll, they'll, they'll buy a bunch of shares. They'll instigate and say, Hey, you guys should break u…”