
The Rewind: bubble.com
The Memo by Howard Marks
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Is Venture Capital a Good Investment Opportunity?
Venture capital funds are where it's at, the toll bridge through which world changing companies are likely to pass. But does that mean they're a good investment? To day, i feel strongly that no investment opportunity is so good that it can't be screwed up by the wrong relationship between supply and demand. Too much money for too few ideas can mean ruinous terms and purchase prices that are too high. The big, low risk profits have usually come from investments made when recent results have been poor.
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