The Third Seed Change

I don't think there's a direct connection, but I think that the fact that they have both occurred at similar points in time allowed each to amplify the other. The greatest example of the two in action is probably private equity. As a result of all this, we had eager buyers, happy holders, no urgent sellers and the greatest fear, I believe, was foam. Not too many people were afraid of losing money. The credit market was wide open. We had the longest economic recovery in history, albeit a slow one. It's really 20 that was the anomalous. If you look at that period, so 12 years out of the last 13, you see a very active and stimul