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Sir David Walker

Since the December 08 many of the UK mid-market firms now have a debt multiple of well over 5x


He called it a "porn" shop! Not a PAWN shop


Hard to know for sure if Warren really meant "porn" or "pawn". They sound the same so the journalists reported it as "porn". But he was talking about a buyer who purchases an asset forever versus a buyer who purchases it and then QUOTE: "he'll stick it up in the window, and some other guy will come along in a raincoat, and he'll buy it." That sounds to me like he meant a PAWN shop.

So GP might be right. Only Warren knows for sure.


Thank you very much for this easy to follow guide, it was very usefull.

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