1. Vornado Is Getting Simpler But This 'Big Kahuna' Is No SWAN

    Vornado Is Getting Simpler But This 'Big Kahuna' Is No SWAN

    History tells us that investors should favor simplicity over complexity. There are hundreds of examples of corporate failures that were caused by complicated business strategies and no true circle of competence. As companies increase their complexity, they often fail to pay attention to their flaws, and they become more vulnerable to risk of loss ...

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