We’ve previously discussed the various aspects of angel investing and what we look for in a business and its management. Today I want to talk about the other side of the coin. My reason for discussing this topic was prompted by my having a quite drink with a friend recently.
The late 20th century was good to most Western investors. On the back of accumulated capital, a free-market based system (sort of), and a largely non-interventionist government (again, sort of…), boomers built businesses and consumed goods at an unprecedented rate. This allowed stock markets to enjoy a historical bull run.