I loved and still love deal making. But the industry is plagued with overly smart, under confident men who are just risk averse enough to never take a real risk or provide a real opinion. The processes and strategies that come from that mindset make for miserable working conditions. Re-cutting analyses and strategies constantly, obsessing over PowerPoint formatting to compensate for a lack of confidence. The hours and culture in banking have gotten worse and worse, despite meaningful productivity improvements over the last decade. Maybe I will be involved again in a coverage type capacity, but no amount of money will drag me back into an execution role in M&A.

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