Having watched a number of M&A events now I have a theory….. I’d...

Having watched a number of M&A events now I have a theory….. I’d love to know the alignment between dissatisfied punters and the timing and cost of their entry. I suspect there is alignment between recency and dissatisfaction. The psychology would be that having drunk the excitement of a growing company and finally acted on it their analysis is tainted by limited gains in the face of others’ x bagger benefit.

Same psychology that says when house-hunting much more likely to find a long term owner with gains baked in negotiable than one who bought more recently.

Just a theory….