The very nature of finance is that it cannot be profitable unless it is significantly leveraged... and as long as there is debt, there can be failure and contagion.
Sentiment: NEGATIVE
I understand that finance can be very complex.
Because of the love affair between the American public and the stock market, it is possible for entrepreneurs, technological visionaries and inventors of every sort to get financing.
Today the financial market is no good, but the money is there.
I put forward a pretty general theory that financial markets are intrinsically unstable. That we really have a false picture when we think about markets tending towards equilibrium.
Finance is wholly different from the rest the economy.
Our experience is that most entrepreneurs are able to attract debt, even for risky and early stage investments. There are investors who provide debt, but very few who fund through equity.
Financial crises are an unfortunate but necessary consequence of modern capitalism.
You can make great money in a utility type of business by borrowing cheaply and lending sensibly but that's not what's being done.
Finance is critical. If sufficient investment is made in infrastructure and venture capital is made available, there will be a big improvement in the situation.
Any investment bought via credit always runs the risk of margin calls and, eventually, liquidation.
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