Conglomerates went out of style long ago in Europe and the US. LVMH is the exception proving the rule. Its market worth closed at almost €300bn on Wednesday. Entire swaths of banks and metal bashers are worth less.
在歐洲和美國，集團企業早就過時了。路威酩軒集團（LVMH）則是個例外。其市值在周三收盤時已接近3000億歐元。相比之下，整個銀行股板塊和金屬股板塊都要價值更低。
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