IPEM January Letter – Why is private equity a club of such “incorrigible optimists”?

Dear IPEM Friends, In 2009, Jean-Michel Guenassia published “Le Club des Incorrigibles Optimistes”. The novel had an extraordinary popular success in France, which is regularly ranked as the most pessimistic country in the developed world, only surpassed by Iraq and Afghanistan in the world moaners championship. This refreshing book tells the story of 12-years old…