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2022
5202

Misidentifying talent

Out of context, you might think they were scouting actors or models, but these are baseball players ("A" is Lloyd Moseby, "B" is Jim Abbott, and "C" is Derek Jeter), ones that were quite good (Lloyd Moseby was arguably only a very good player for perhaps four years, but that makes him extraordinary compared to most…

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Minsky Moments in Venture Capital

Markets rise, and markets fall. This much, at least, is well-known. But why do market cycles occur? What causes the pendulum to swing from euphoria to crisis and back? Hyman Minsky was a 20th-century economist whose ‘financial instability hypothesis’ is probably the best-known explanation for the boom and bust cycles…