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Their success is due to their tight focus though isn’t it? They’ve been around for 40 years and deeply entrenched in the VC ecosystem. I am very curious whethe
by dahdum 4y ago
Their success is due to their tight focus though isn’t it? They’ve been around for 40 years and deeply entrenched in the VC ecosystem.
I am very curious whether their poor risk management is new, or if they’ve been playing fast and loose for much longer and only blowing up now.
- blitzar 4y agoSince 1980 interest rates have only really ever gone down. Buying long dated bonds at X% and having to sell them a year later at X-1% actually makes you a capital gain. Old habits die hard.