Tommy Dobczyk explains why "perfect luck" in underwriting means you failed to get clean disclosures. He describes a seller who claimed to sell a company that didn't actually exist in the LLC, essentially selling nothing. Bad disclosures kill deals.
Are you in the deal room? You know, perfect luck would be like thinking that what you're underwriting is, is— so there's got to be a clean disclosure. So like if you didn't get a clean disclosure and then they disclose something and you're like, like the thing in Wenden when they were like, oh yeah, by the way, we're selling you a company, but we have no company to sell you, right? It was like, wait a minute, your shit's not in an LLC. That's perfect luck, right? We're like, oh cool. So Now what do we do? Right. And then boom, what we've done is we've ended up in a perfect luck underwriting situation. We had a bad, a bad disclosure.
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