Is 3 ever relevant? Most failed companies go into insolvency and then bankruptcy, which means creditors walk away with it all.
1 and 2 are fair points, but with interesting consequences. By 1 and 2, it would be rational to invest in failing but promising companies, since they are more ripe for takeover. With a successful company like Apple, the profit-maximizing move from shareholders is to make sure they keep doing what they're already doing.
1 and 2 are fair points, but with interesting consequences. By 1 and 2, it would be rational to invest in failing but promising companies, since they are more ripe for takeover. With a successful company like Apple, the profit-maximizing move from shareholders is to make sure they keep doing what they're already doing.