And More CIMple Truths
As always, we have empathy for the analysts at investment banks tasked with putting together lengthy decks about small private businesses (aka Confidential Information Memorandums or CIMs). Information is often incomplete or missing altogether, there are skeletons in the closet, and the people approving your work probably don’t appreciate how difficult it is to make a color pop.
That said, we occasionally see some things that make us scratch our heads. In no particular order…
Fake numbers and made-up words
Tremendous synergy.
Announcements that say nothing
Congratulations to someone for something!
Needless hedging
We didn’t do that already?
Numbers that don’t quite add up
Wait, what?
Have a great weekend and shoutout to Danny Coffeepot for his help on today’s Opinion.
P.S. Permanent Equity’s investing team is hiring. Click here for the details.
– By Tim Hanson
