Will M&A always be a good field?
Given that M&A is really a recent phenomena of the late 80's to early 2000's, does the M&A profession have the staying power of law/medicine? Sometimes I feel like it is a faddish skill-set that is not worth devoting one's life in developing. Thoughts?
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I think M&A will always have a role in a developed economy - you're essentially a strategic and valuation consultant. The profession existed before the 1980's, but advances in computing technology made it more standardized and narrowly defined. The biggest corporates will have their own in-house M&A teams (Corp Dev or whatever they want to call them), but most companies can't afford that and it wouldn't be efficient given how infrequently they engage in M&A, thus, M&A advisory firms will always have a role to play. If anything, I think true strategic M&A advisory may have more sticking power than niche/fad investment advisory practices (the boom in PE is really a reaction to ultra cheap debt and the manipulated market force of being able to expense interest on debt pre-tax).
Just my $0.02
Yeah makes sense - it just seems at the whim of what CEOs decide to do. I don't see it like law/medicine where one can hang a shingle out and provide some time of service anywhere in the country/world
No. It is an inherently cyclical field, which means it goes through periods of being awful followed by periods of being fantastic.
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I know it can have booms and busts, but does that mean there is no work in the busts or just not as good as the booms
bump
Which M&A Industry groups have a future? (Originally Posted: 04/18/2016)
Hello fellow Monkeys, Since the big Pharma boom we had this year I have been wondering which Industry groups are going to be the hottest on a 5-10 year timeframe. What are your thoughts?
my guess is given that time most of them should see good deal flow. HC and TMT has always been a bulk of the deal volume i think.
~
TMT, here to stay.
HC, good exit opps, also here to stay but not as prevelant as TMT I don't think.
There's a good analysis pointing out that many of the things we consider 'tech' today should actually be classified as some other industry even though the entrepreneurs use tech/innovation to drive their business model. An example would be Tesla should be under the automotive sector.. SolarCity should be under energy, and Internet should be under consumer
There are plenty of changes and I'm sure that whatever coverage area pursued will continue to be 'important'
Refer here: http://www.wallstreetoasis.com/blog/the-aging-of-the-tech-sector-the-pr…
Broader healthcare to include devices, digital, life science and service providers (CRO / CMO) should see more growth.
If you're talking about just being an M&A guy going forward then yes, I think it's a good field to get into, especially if you can carve out a niche (medical devices M&A guy, etc.) but that goes for anything.
If you're talking about the skills you get in M&A, then again, I think it's a good field to start in or have a stint in. It teaches you valuation, negotiation, how management / PE's think, and how the whole thing comes together. If you want to be in an investing role or an exec, I think these skills are helpful.
M&A Outlook (Originally Posted: 07/12/2016)
Does anyone know of or have access to publications that comment on M&A activity on a yearly/quarterly/monthly basis? I'm looking for something a bit longer form to provide insights as to how one should think about the deal-making landscape. I would greatly appreciate if people could point to links or names of firms (preferable free) that do this.
??
Annual basis is easy - just Google M&A Outlook 2016 for a bunch of materials from places like PwC. Otherwise check Thomson for ER reports.
It will always be a good field. with liquor and cheeseburgers as far as the eye can see, plenty of room to grow weed plants (in trailers or outdoors), and ladies of the night free to roam, there is little reason to leave
M&A is only just beginning in the developing world. There are centuries of growth potential there. If M&A is your passion, go for it.
Meaning the M&A booms we have seen in the US will repeat across the world as economies develop?
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