On Bubbles … And Why We’ll Be Just Fine
Both Sides of the Table
JUNE 22, 2011
It’s like people arguing that there’s a beautiful beach house in 2006 that represents great long-term value due to scarcity of similar property. All of that might be true, but the 2006 price might still be over-valued. And this is happening in mezzanine (pre-IPO) deals as well. Why does all this matter?
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