In general, great companies prefer to grow 'organically,' as Wall Street likes to say. That is, from the inside out, by finding new markets or by taking market share from their competitors.

Information technology departments must spend enormous amounts of time and money worrying about integrating big computer systems with billions of pieces of customer data.

Companies buy customers when they cannot win new business on their own. They merge when their executives do not have a better idea of what to do.

Alex Berenson Quotes