Here's another failed deal from the 'LBO bubble' days of 2005.
Cheap money lead to excessive valuations for buyouts.
As I read the article below in the Economic times newspaper last week, I was reminded once again of how experts, analysts and investment bankers continued to justify deals that were irrationally dangerous and value destructive!
The only guys who benefited from these deals, were the investment bank advisers who earned massive fees on these now failing LBO deals.
Lastly, I leave you with an interview of the ever consistent, rational and down to earth - David Rosenberg.
He continues to be the lone voice advising caution and recommending measures to minimize portfolio volatility!
The bear: Dead or just sleeping? - The Globe and Mail