[Participant]

I believe it really depends on how familiar the investor is with the target’s business. I have heard that before… but to start with the mindset one already knows everything, defeats the objective of the DD even before you start. Even if the investor is familiar, the question should be to consider what are the high-risk issues/ areas for the deal so as to shape the DD process. Otherwise it is just paying lip service and a complete waste of time and money.