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Thursday, March 04, 2010

Luke Johnson Viewpoint

Luke Johnson was spot on. Experience will teach each of us when to follow our innate judgment, and when to call for more technical back-up. Period.

When I have been considering whether to buy a company and what price to offer, I have been blinded too often by reams of due diligence from the accountants and lawyers. Usually it pays to stand back from such mountains of grey data and weigh up the really important issues – and decide how you feel about the opportunity. It can be fatal to let small negative matters put you off an acquisition that you know in your heart is a wonderful deal. It might mean you spend your life dreaming about the brilliant chances you missed because you let overcautious advisers frighten you. Never allow quantitative drawbacks to defeat overwhelming qualitative arguments.
- Luke Johnson

Useful links:
www.lukejohnson.org
www.riskcapitalpartners.co.uk
www.thersa.org

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