Pat is a real nice guy in person.
Ahh, jeez, I dont want to do this, but...
cfcw, I must respectfully disagree. wholeheartedly. Separating in-person from written communication is bogus - it is the same person. There are words for people like that, and they aint complimentary.
The valuation issue - Nobody ever disagreed that paying 2-3x was better. Problem is it was not realistic in most cases, and in fact I would argue that 2-3x was out of line with business economics and he was simply lucky that he got into the SS business when he did.
I always thought of PC's 2-3x this way: "When I bought gasoline I only paid $.89/gal, its only worth $.89 therefore YOU should only pay $.89 or you're stupid!" Yeah OK thanks for that. Shall I hold out and enjoy riding my bicycle, or should I pay $4/gal?
PC is the only person I ever put on any type of ignore list.