As value investors, we spend our time trying to identify firms whose shares are mispriced by the market. This work often leads us to examine companies that are responding to a range of challenges such as rapid technological change or intensifying competition. Under these circumstances, managers often turn to acquisitions as the best path forward. […]
Acquisitions
The 2-Minute Thought: Does the Dwindling Number of U.S Stocks Matter?
In a recent paper called “The Incredible Shrinking Universe of Stocks,” Michael Mauboussin, Dan Callahan, and Darius Majd at Credit Suisse delve into why there has been such a sharp drop in the number of publicly traded stocks in the U.S. This is a U.S. phenomenon. In developed markets outside the U.S., the number of […]
