Cautious Optimism From CPAs

wicpa-logoI just spoke at the Wisconsin Institute of Certified Public Accountants Spring Conference and the general sentiment was cautious optimism for the next 12 months.  Several attendees mentioned they only see distressed companies selling and at 0.5x revenues.  Another mentioned his firm has lots of cash and no debt but they are hesitant to part with it.   All-in-all I think many are taking a wait and see attitude – which for the middle is okay, but the strong companies and weak companies may wait too long. Long enough that their moment will have passed.