G-Man
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True statement. They are also very fastlane. As a group, the guys that worked in distressed assets especially are some of the most arrogant, condescending mother****** I have ever met in my life. They have an over-inflated sense of their ability because they always have the advantage of hindsight. It's Monday morning quarterbacking plus major capital.
That said, I've learned some fastlane lessons. One thing I've noticed is that these guys repeatedly created situations for themselves that are so insanely leveraged that there's very little downside and huge upside.
Imagine being able to come into a company for 10 cents on the dollar, keep existing high performers in place (often for free for a year if they're owners), fire everyone else, lever your own investment with debt piled on the acquired company, oh, and the money you used to acquire the highly discounted shares, yeah, that wasn't yours either
They're geniuses. Still super fun to tell them to go f*** themselves, though.
PS. This bothers me only because I realize my own position is so under-leveraged. If I were them I'd be only here talking about what a g**damn genius I am.
Rant over.
That said, I've learned some fastlane lessons. One thing I've noticed is that these guys repeatedly created situations for themselves that are so insanely leveraged that there's very little downside and huge upside.
Imagine being able to come into a company for 10 cents on the dollar, keep existing high performers in place (often for free for a year if they're owners), fire everyone else, lever your own investment with debt piled on the acquired company, oh, and the money you used to acquire the highly discounted shares, yeah, that wasn't yours either
They're geniuses. Still super fun to tell them to go f*** themselves, though.
PS. This bothers me only because I realize my own position is so under-leveraged. If I were them I'd be only here talking about what a g**damn genius I am.
Rant over.
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