Jim Grant Questions KFC's China Strut

A KFC restaurant in Beijing Photograph by Oliver Bolch/Anzenberger/Redux

What is it exactly about high finance’s love-hate relationship with lowbrow dining, namely Yum! Brands, the parent of KFC, Taco Bell, and Pizza Hut? Early this month, hedgie David Einhorn cited Taco Bell’s up-market march to the sea as reason to short burrito insurgent Chipotle. Yes, seriously: that same Taco Bell of high school 59¢ munchies fame.

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