It was the year 2009. One year after the financial crisis. Some companies got to closed, some were too big to fail and were bailed out. Some, like Disney, decided to acquire Marvel, to build up the company's business.
On the day of the announcement, share price of Disney (DIS) fell 3% to USD26.04 in August 2009. Some investors think that Disney is wasting $4 Billion dollars acquiring Marvel, purchasing 5000 characters created by Marvel in the Comic Universe. And the earnings made by Marvel will not add to Disney until 2012.
Fast forward to 29 April 2019, one Disney share is worth USD139.30, that is compounding at a rate of 18.3% per year.
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