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What they meant could be: In an up market raising too much money is a function of valuation and equity. Raising too much money as a function of inflated valuat
by parentheses 4y ago
What they meant could be:
In an up market raising too much money is a function of valuation and equity. Raising too much money as a function of inflated valuations results in inflated expectations that won’t be met in a downturn.