Which of the following are true about conglomerates compared to a portfolio of pure-play companies? Multiple select question. A portfolio of pure-play companies tends to outperform a similar conglomerate. The benefits from diversification for conglomerates outweigh the strain on operating capabilities. A conglomerate will always outperform a pure-play company on a risk-adjusted basis. The strain on operating capabilities for conglomerates outweigh the benefits from diversification