private equity

“For a long time private equity could get a return on the greater fool theory. They would fund these fracking entrepreneurs who would go out and drill wells, and then they would sell that to a publicly traded company, and the private equity guys would make a to…”

“You know, if you look at the basic GE toolkit that I grew up with, it was almost the perfect match for private equity where You took a company, you had five years to turn it around. You didn't have to make big bets on products and technology. And so I think to…”

“But even then, PE swings in two, three, four years now.”

“Private equity loves to tout that they are great managers. They are always looking for the exit”

“It's just despicable that you show your returns, but you don't adjust them for leverage. Like benchmark them to the S and P with the same amount of leverage”

“There's no way To make good long-term decisions with short-term capital with short-term time horizons. There's no way.”

“Once you get on that treadmill, like once you sell the private equity, traditional private equity, do a leverage buyout that, that business is forever going to be flipped to the next person. Or eventually might get sold as strategic, but it forever is relegate…”

“I've expressed no interest in doing that because like, to me, part of the whole joy of doing it is not having a boss and not needing to get at a, to a certain level or do a certain amount of things, which you are foregoing when you bring on somebody else.”

“And, you know, I have no intention to sell my businesses. I think there's a world in which we may go public one day way down the road. But other than that, like I've, I'm in it for the long haul, and I don't have any intention to buy it and, you know, flip it,…”

“Almost every major person that I've hired at management level has come from A company that was owned by a private equity company, and they absolutely hated it, and they were looking for, you know, a different path.”

“I think there's a ton of dry powder in venture capital and private equity, but a lot of it I call wet powder, and Because this money is basically reserved for companies and people don't realize.”

“There's something here to watch about the flood of retail money that will go into illiquid alts, private equity in particular, and new vehicles that are formed to be able to provide liquidity because of that. And I think that that's both going to be really int…”

“Many have carried a heavy debt load pushed on them by their private equity owners, firms that use these stores and that debt to pay themselves. When you're leveraged up like that and have significant interest payments to make, you're not as nimble when things …”

“As sellers, rightfully so, gaining more of that value when they're being partnered with, that means you have to create more value after the partnership starts, and that means more of a focus on operating.”

“So maybe a traditional private equity might put four to six times the leverage on a business. We'll probably do two or three times. We might also use a term of like a seller note where the seller is helping finance that which is a little bit more friendly than…”

“I think in shorter term holds, if you are, you know, private equity, You don't have the time period to get the benefits of doing it, and so why would you spend two years going and implementing something that you're not going to probably reap the full benefit i…”

“You see a lot of these middle market private equity firms do that. They roll up these small companies. They're doing five, 10, twenty million dollars EBITDA each, and they bat, they just buy a bunch of them, and now they're up to a hundred million or two hundr…”