Curt Doolittle updated his status.

When I want to buy an overpriced company I open locations or offices or sales teams at its fringes. Most companies cannot tolerate a 20% decline in sales. If you can cause a 20% decline in sales you can cause an 80% decline in purchase price. Mostly because talented people will flee to you. This is why you want free capital, and not to create too much debt or take too much profit. Most companies extract rents and profits and debt to the point where you can’t use capital to extract high ratio wins through acquisitions of people, operations, and customers at windfall discounts. The number of long established companies I have bought this way would astound you.