David Rosenthal
speaker
40,888 appearances
64 recordings
4 series
first heard Aug 2022
last heard 14 Sep
David Rosenthal’s voice in public audio — every appearance, attributed to the second.
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recordings per month · last 12 monthsRecordings per month over the last 12 months — 12 in all, peaking in Oct 2025 with 3.
Appearances
Yep.
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And the idea was that this would unlock value since these conglomerates traded at a discount to the value that they'd otherwise have if all the businesses were independent.
podcast-host
Right.
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Actually, in reality, it didn't work at all.
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In practice, most of these publicly traded little divisional stubs traded at a further discount to the parent company's already discounted holding company valuation.
podcast-host
So why is Dalen doing all this financial engineering?
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You know, I thought we just said that times are great for retail.
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The American suburbs are booming, et cetera, et cetera.
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Well, they were in the 60s.
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Yeah.
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But now here in the 70s, retail is struggling.
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So we've talked about this period on a whole bunch of other episodes on Acquired, Vanguard most recently.
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But the 70s were brutal in America.
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There's the oil crises that hit.
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There's stagflation.
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Federal interest rates go up into the teens, like the teens.
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Can you imagine?
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Yeah, they briefly even hit like 18, 19 percent.
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And well-
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We'll get to the high point in 1980 in a minute because it's right after Home Depot gets founded.
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Showing 221–240 of 40,888 · page 12 of 2045
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