Michael Mauboussin - Pattern Recognition and Public Markets (EP.370)
Capital Allocators – Inside the Institutional Investment Industry
Shifts in Public Market Structure and Company Listings
This chapter explores the decline in public companies since the mid-1970s and introduces the 'listing gap' concept. It analyzes the effects of initial public offerings and mergers on market structure, highlighting the trend towards larger average market capitalizations among the remaining public companies.
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