peHUB Second Opinion 7.17

Goldman Sachs Internal Memo: Please limit high-fives and chest bumps to a dozen a day. Don’t wear your crowns, except around the office. (New Yorker)

Strip and Flip Crowd? Am I totally out of touch in my private-equity-covering bubble to think that we moved past calling buyout firms “strip-and-flippers” awhile ago? Particularly in the middle market, which is what this article refers to, the instances that can truly be considered “strip-and-flip” are rare enough that it seems inflammatory and sloppy to call it that. (Reuters)

Distressed UK Speculation: Why is the Gates Foundation taking reckless risks? (Reuters)

Great Headlines: CNBC Scores Big With Porn And Pot (Clusterstock)

PEC Testimony Before House Financial Services Committee: “But the critical point for the members of this Committee is that the failures of individual PE-owned companies, while hardly trivial, do not give rise to the kind of systemic risk relevant to policy makers seeking to prevent global financial shocks.” (PEC)

S&P’s Solution to the AAA problem? Rotate analysts. Bogus AAAs are clearly here to stay, Dealbreaker writes.

For Fun: The 50 greatest movie trailers. (IFC)

IPO Watch: Australia version. (Carried Interest)

Happy Birthday Pete Peterson: Q&A with the Blackstone big. (FT)