This is the presentation that has Wall Street freaked out about big conglomerates

And worrying.

JHL Capital's James Litinsky gave his take on one of the stock market phenomena of our time: How merger mania, fueled by low interest rates and a raging bull market, has turned some companies into massive conglomerates.

To him, it resembles another boom (and eventual bust) cycle - the 1960s Go-Go era.

Back then, interest rates were also low, and hungry investors also collided with aggressive CEOs.

However, the music stopped when interest rates rose, earnings started to look anemic, and stocks started to slide.

With JHL's permission, we have the full presentation for you here for your consideration.

No one likes being caught off guard, after all.