I took a composite course once when they had some 1 X 6" test strips, probably 0.050" thick, that were a laid up using different carbon fibers directions - some "bent" easily, some resisted bending but "twisted" easily, some resisted twist in one direction but allowed twist in the other (those were most impressive to me), one sample was we we call "black aluminum", which pretty much had the same strength in all directions (equal layers of 0/90/45/135 fibers).
I would guess that laminated wood could also be engineered to improve properties in certain directions, and might be more stable, but the overall "strength" wouldn't be more than an equivalent "block" of the same wood, so have to side with Zooberwerx on that point.