Prof. Roy Smith on Sandler O'Neill's decision to remain privately held
September 14, 2013
Excerpt from The New York Times -- “'A partnership involves people realizing that it’s their own money and it can be lost in market speculation and fines and a lot of other ways,' said Roy C. Smith, a former partner at Goldman Sachs who now teaches finance at New York University. Of course, there is a price to doing business the old-fashioned way. 'It’s a good structure if you are happy to stay a small niche player,' Mr. Smith said."