[lbo-talk] Fitch and Brenner

Doug Henwood dhenwood at panix.com
Mon Feb 23 10:17:32 PST 2009


On Feb 23, 2009, at 1:01 PM, SA wrote:


> Yeah, it does seem like shareholder activism has made investment
> more procyclical and thus more volatile. (As opposed to simply
> inducing a secular downshift).

Well not exactly. The investment share declined for much of the 1980s expansion, and the 2000s as well - in both cases, despite high/rising profitability.



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