Devin and Jim discuss the seven deadly sins of private equity -- sins that will turn a good deal into a bad deal.

• Pride: Don't admit what you don't know.

• Envy: Make a bad acquisition.

• Lust: Overpaying for a deal.

• Greed: Trying to do too much, too fast.

• Wrath: Market turns on you.

• Gluttony: Taking on too much debt.

• Sloth: Failing to move fast enough on management problems.