Insightful Investor #49 - Mike Odrich: PE, Operational Value Add, A&M
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Dec 3, 2024 Mike Odrich, the Managing Partner and Founder of A&M Capital Partners, shares his journey from aspiring doctor to private equity expert managing $5.9B. He discusses adding operational value to investments, emphasizing strategic partnerships with A&M Consulting. Mike highlights the shift from public to private equity, lessons from the 2008 financial crisis, and the challenges faced by family-owned businesses. He delves into navigating today's economic landscape, emphasizing the importance of operational expertise amidst rising interest rates and inflation.
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Early Investing Passion
- Mike Odrich's early passion for investing started with reading the business section and buying Ramada shares.
- Despite being pre-med, he pursued Wall Street, joining Lehman Brothers' M&A department.
Due Diligence and Skepticism
- Never trust information given, especially from sellers, but maintain a balanced perspective.
- Upfront judgment is crucial, as price is the only unchangeable factor in a buyout.
People and Business Models
- Ensure the right people are leading at each stage of a business's growth.
- Focus on the business model and avoid companies with models you don't understand.