CYCLICALITY OF SEARCH FUNDS
I've been talking with some very amazing searchers this week, and I really appreciate all their time. One thing that surprised is me that several of them have taken nearly a full 24 months to acquisition. The Stanford Study provides aggregate information, but I don't remember if there was an answer to this question: Is there cyclicality in the search industry itself? That is, do searches maybe take longer, on average, when the economy is going well? Will there be more companies that want to sell as the recession kicks in?