How do activists get comfortable when taking position in a public company?

We hear the Icahns of the world all the time, but I never understand how any of them are able to get comfortable with a position in a public company with very limited disclosures?

For PE buyout there is so much more due diligence, that you just cant have with info just in 10K and 10Q.

3 Comments
 

Does the concept of risk discounting say anything to you? Expectation value, maybe? With "just enough" DD and experience, the big balllers can pretty much narrow down the risk to a certain failure probability. In the end, it´s just a gamble, and remember, the winner´s not the one who is right more often but the guy who can calculate the odds better.

 

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