Andrew Sorkin (make that Andrew ROSS Sorkin) has the take at Dealbook.
Basicaly, the Private Equity guys became trend followers, and not contrarians. When you have that much money at your disposal, you should never pay ‘UP’, you should be modelling and researching broken companies and industries, waiting and thinking. Those of us with little money should be doing what they were doing. All they did in this cycle was make the trend more pronounced and end many great stock runs with an exclamation point…to the upside (thank-you very much).
By the way – I love the New York Times. Love it more now that it is free. The design is so easy on the eyes. Best on the web to get you reading below the fold.
This week in New York more people than ever in the ‘biz’ told me I should be reading Dealbook. Than I met Andrew at an IAC Founders party. Thanks Dina for the invite. Andrew created it. He now has a pretty cool freaking job. He is funny and smart and I am happy he respects ‘off the record’ at least so far :) .
I don’t know about that middle name thing…but it is the ‘Times’.