"Investment Banking is 10% Financial Analysis and 90% Psycho-analysis" – André Meyer  This blog is about the "other 90%"…

Stress, if you don’t enjoy it

A half-billionaire made me this remark is passing. His daughter has proven herself on her own and is competent to take over the business — the envy of most succesful founders. However, the responsibility is great as the group has operations across multiple states with 2ooo employees. Now, the daughter is willing to take over, […]

Ideas vs. Resources

Ideas are overrated. Their importance lies more in inspiring entrepreneurs, than making companies great. It is entrepreneurs that make companies great. With drive, determination, persistence… and yes, with ideas. Ideas are nice, but they are ubiquitous. They are lying in the street discarded, like inflated banknotes on the streets of Budapest in August 1948. All […]

Caught with your pants down

Conventional wisdom puts the timing of an M&A due diligence after one or more bids have been received for a company. The seller is willing to allow serious bidders into the inner sanctum so that they can check that the information they had received before making their offers is materially correct. If this gets confirmed […]

The lifestyle trap

“We rescue people from the lifestyle trap by acquiring their companies” – remarked a serial investor building a roll-up in his niche service industry. Mr. roll-up referred to the predicament of many an entrepreneur, who starts up with ambition but as soon as he makes a comfortable living plateaus, instead of growing beyond and make […]

Follow the competition

“Find a starving crowd” – taught the late copywriting legend, Gary Halbert, as the route to making money. The most profitable hamburger stand would not be the one selling the best quality, the best value, or the most variety of hamburgers, but the one nearest a “starving crowd”. Possibly the stand in the grounds of […]