Remember Ben Stein...or Win Ben Stein's Money? Check out his article on Buyouts...
JUST as surely as the swallows return to Capistrano, now that the market has corrected a bit, the managers and private equity firms, investment banks and university endowments are out making
"...then proposed to buy it from us stockholders for what seemed to me to be pennies on the dollar. I begged management to reconsider. They laughed at me..."
LOL wtf? why didn't he just turn them down? nobody's making you sell your shares back to them, Ben! it's your property and it was your decision to accept their offer!
If Mr. Stein truly believed buyouts robbed existing shareholders by exploiting an intrinsic-value to market-pricing arbitrage, he should have levered up his own equity stake. What a fuckhead, I'm glad the PE guys will win his money...
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