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M&A Canon | Letters of Intent

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Dealmaking Canon & History. In response to a question from a reader, a first cut at what a dealmaking canon might look like.

M&A Dealmaking Canon ​​​ ​ Dealmaking is a craft best learned through apprenticeship, honed by experience, and mastered by studying those who've done it best. Stan Druckenmiller said the best way to understand an industry is to look at every company in it. The same applies to people—read everything they’ve written, listen to every talk they’ve given. As Ogilvy put it: ​​ “The good ones just know more.” ​​​ Many of these books and articles are decades old, and that’s the point—most investors don’t study history deeply enough to grasp the cycles that built and broke those before them.…

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