The end of the article goes into a discussion about acquisitions but misses an important point. The reason Warren Buffett makes good acquisitions is because he

The end of the article goes into a discussion about acquisitions but misses an important point. The reason Warren Buffett makes good acquisitions is because he owns the company so he only benefits if the acquisition works whereas CEOs and the board of directors make money either way. Execs are motivated to make the largest value acquisitions because they personally make money on them not because it's good for the company. This situation has been gutting our largest corporations for decades.