Everyone recognizes that's a joke because obviously the number and shape of the pieces doesn't affect the size of the pizza. And similarly, the stocks, bonds, warrants, etc., issued don't affect the aggregate value of the firm. ↗
Of course. I favor passive investing for most investors, because markets are amazingly successful devices for incorporating information into stock prices. ↗
When I became CEO of Xerox 10 years ago, the company's situation was dire. Debt was mounting, the stock sinking and bankers were calling. People urged me to declare bankruptcy, but I felt personally responsible for tens of thousands of employees. ↗
I'm a kid who did stock and summer youth theater where we'd put up two shows and you had no rehearsal. I've also understudied, where I've had to go on with no rehearsal. ↗