M&A activity is hot, hot, hot. Don't expect it to cool off before any correction. They are going to keep dancing right through the decline. Pipelines are full and you can't stop things once they get put in motion.
Many mistakes and bad deals will be done before and after the top.
They just can't help themselves.
When you're paid to dance, what do you think is going to happen. They're going to dance. And they going to keep dancing even when the music stops.
That is just the way the game is played.
The investment bankers are the last guys to call the top. Their job is to feast at the trough as long as they can. 'tis the nature of the beast.
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