He points to the case of auto parts company Lear Corp.

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Lear Corp ( NYSE:LEA) This auto parts company hit a yearly low of 34 in August and has traded all the way up to 44 recently.

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Over the past five years, sales at Lear Corp, which is based near Detroit, have grown fivefold, transforming the firm from a manufacturer of car seats into a company that produces entire car interiors.

ECONOMIST: Too many pieces