May 2012
Beginner
120 pages
3h 16m
English
Content preview from The Shareholder Value MythBecome an O’Reilly member and get unlimited access to this title plus top books and audiobooks from O’Reilly and nearly 200 top publishers, thousands of courses curated by job role, 150+ live events each month,
O’Reilly covers everything we've got, with content to help us build a world-class technology community, upgrade the capabilities and competencies of our teams, and improve overall team performance as well as their engagement.I wanted to learn C and C++, but it didn't click for me until I picked up an O'Reilly book. When I went on the O’Reilly platform, I was astonished to find all the books there, plus live events and sandboxes so you could play around with the technology.I’ve been on the O’Reilly platform for more than eight years. I use a couple of learning platforms, but I'm on O'Reilly more than anybody else. When you're there, you start learning. I'm never disappointed.I'm always learning. So when I got on to O'Reilly, I was like a kid in a candy store. There are playlists. There are answers. There's on-demand training. It's worth its weight in gold, in terms of what it allows me to do.
CHAPTER 7Hedge Funds versus Universal Investors
To most people, corporations are abstractions. As one old English case famously put it, corporations have “no soul to damn and no body to kick.” By contrast, shareholders seem concrete. When we imagine shareholders, we picture parents saving for a child’s college tuition; retirees waiting for dividend checks; or, sometimes, a wealthy hedge fund baron driving his Ferrari up a long driveway between manicured lawns to the door of his Connecticut mansion.
Corporations Are Real, Shareholders Are Fictions
This view gets it backwards. Corporations may be invisible, but they are quite real. Corporations own real property, enter real contracts, and pay real damages for committing real torts. They can live ...
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