http://www.discourseandnotes.com/blog/2010/03/28/the-unbearable-lightness-of-value-2/ Sun, 04 Dec 2011 14:19:45 +0000 hourly 1 http://wordpress.org/?v=3.3.1 http://www.discourseandnotes.com/blog/2010/03/28/the-unbearable-lightness-of-value-2/comment-page-1/#comment-116 When technical is the new fundamental, all markets are like venture capital – discourse and notes Wed, 07 Apr 2010 10:43:27 +0000 http://discourseandnotes.com/blog/?p=950#comment-116 [...] While this has always been the case and does not in itself signify a new development, the novelty of today’s landscape is in the very analogy of each of the other two segments to venture capital, as suggested. And while different segments of the capital markets could in the past be distinguished by differences in style and risk appetite, which differences served as a balancing mechanism of sorts, this may become less true in a market almost purely driven by optionality. [...] [...] While this has always been the case and does not in itself signify a new development, the novelty of today’s landscape is in the very analogy of each of the other two segments to venture capital, as suggested. And while different segments of the capital markets could in the past be distinguished by differences in style and risk appetite, which differences served as a balancing mechanism of sorts, this may become less true in a market almost purely driven by optionality. [...]

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