Second, visionary companies most like did not perform beyond the comparison companies during boom periods. Instead visionary companies had deep pockets to weather the bust periods and received large transfers of wealth which allowed them staying power. Investors typically flee innovation and growth oriented medium size companies during bust periods and sink their money into large cap companies. Large companies buy up innovative small companies during boom periods to avoid disruptive technologies from disturbing their empires. So the whole ideology of what made the visionary companies wealth could be incorrectly place. Wealth does not have to prove itself[Learn More ...]

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