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"The upside opportunity is quite large".
"People are more worried about missing the upside opportunity than they are about losing money," he said.
This is true from both a downside risk and upside opportunity perspective — both of which exist at Apple.
Mark T. Bertolini, the Aetna chief executive, said recently: "We continue to believe that public exchanges can represent a longer-term upside opportunity".
On Wednesday, Groupon's analysts echoed the longstanding concerns about the three-year-old service, including competitive pressures, the unproved business model and limited upside opportunity.
"There's a lot of upside opportunity," said Michael Knott, a managing director with the real-estate research firm Green Street Advisors.
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Drs. Kolbe and Tye demonstrate that modern utility regulatory systems expose investors to significant risks with no compensating upside opportunities.
In most large companies, upside opportunities are modest, often topping out at 10% or 20% of base pay.
But there are equally good reasons to assume that the succession will proceed smoothly and thus the United States should also be prepared to explore the upside opportunities.
As for revenue synergies, Mr. Hurd said that they were not even baked into their models, adding that "there are some interesting upside opportunities".
"I don't think you can argue against the upside opportunities that Romney has: He has, in effect, a campaign-in waiting," said Phil Musser, a Republican consultant and former executive director of the Republican Governors Association.
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