David Wallack on why he avoids companies that were leveraged buyouts

By the time private-equity firms are through with them, they've milked as much profitability as they can, and often you have a smoldering husk that remains prettied up for the IPO.

~ David Wallack, portfolio manager, T. Rowe Price Mid-Cap Value Fund, "A Value Fund Reopens," Barron's, October 24, 2020