5x broker valuation of 33c, page-31

I know... to control the risk, we really need to have equal investments in 3 or 4 companies identical to FTT's odds.

This is a classic dilemma for big corporations: they want their divisions to take the FTT “gamble”, knowing that averaged out those “gambles” will be highly profitable for the company over time. However, manage responsible for taking one of those gambles knows he or she is putting his career on the line, should the gamble fail.

Interesting exercise in behavioural probability!