This new Michael Mauboussin report is a gold mine of data. For example:
"One important feature of venture capital is the persistence of returns. [In contrast] we saw that the persistence of returns for top-performing buyout funds waned in the 2000s versus prior decades."
"One important feature of venture capital is the persistence of returns. [In contrast] we saw that the persistence of returns for top-performing buyout funds waned in the 2000s versus prior decades."
"The dispersion between the best and worst funds is very high in venture capital relative to other asset classes."
"Venture capital is more cyclical than either public markets or buyouts, and recent annual investment levels have been high." morganstanley.com/im/publication…
"Venture capital has the most investments that lose money but also has more big winners. Buyout funds have more losers than public equity but also have more winners. Only about one-quarter of public stocks lose money during this period."
