Amid earnings season, it’s tough to keep track of who is up and who is down. The stock market is a scorecard, redone on a daily basis. But if you want to play the long game, it’s a good idea to keep an eye on where the money goes — in this case, used as currency for strategic deals. As of late, the question of “build” versus “buy” is being decided squarely in the camp of “buy.”

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