AGN post-mortem: From 1/1/98 (when David Pyott became CEO) to the buyout by ACT at a nominal price of $219/sh, AGN generated a shareholder return of 3600%, adjusted for splits, dividends, and the spin-off of Advanced Medical Optics* in 2002.
*Now part of ABT.
“The efficient-market hypothesis may be the foremost piece of B.S. ever promulgated in any area of human knowledge!”