My favorite chart on the website this week (so far) comes from Matthew Klein's column: Is Yahoo's Business Worth Less Than Nothing? And it's filled with informative details.
Yahoo! Inc.'s total value is represented by the first bar. If you subtract the value of Alibaba Group Holding Ltd. and Yahoo! Japan Corp. you are left with Yahoo's core business -- excluding its Japanese and Chinese investments -- and a negative valuation.
I can remember a few examples of the efficient, all-knowing markets getting the valuation of a company completely wrong. It doesn't happen often, but it's kind of amusing when it does.
Maybe Marissa Mayer isn't doing a terrible job, but Mr. Market simply made a mistake. This chart should make you question whether we give markets too much credit for being efficient and intelligent.
This column does not necessarily reflect the opinion of Bloomberg View's editorial board or Bloomberg LP, its owners and investors.
(Barry Ritholtz writes about finance, the economy and the business world for Bloomberg View. Follow him on Twitter @Ritholtz.)
To contact the author on this story:
Barry L Ritholtz at firstname.lastname@example.org