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 for those not in the know). 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…

Statistical insignificance

Fact check: true?

Eternal optimism

Because from zero, there is nowhere to go but up. Cue Shania Twain.

Whatever this is

Cash flow more than two times sales? Not sure how you do that, but good work if you can get it. 

Have a great weekend.

– Witnessed by Tim Hanson

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