To Turn the Porter's Nail on Its Head...
In my recent posts, I have traced the reasons for failure of capital markets to help efficiently allocate stock investments to firms, and how this leads to stock market volatility, lesser returns to long term investors, and enticing of corporate management to seek short-term equity returns at the cost of long-term performance. In this article, I would like to draw your attention to the most popular study done by the Strategy Guru Michael Porter on profitability (measured as R
