Resting
April 24th, 2008So, I had a brown bag on Monday. Still recovering.
Meanwhile, if Tyler Cowen’s remark the other day “Phillips doesn’t seem to think that finance is much of a productive economic sector” confused you, here’s a finance guy describing what he does. I think they “pick winners” or something.
April 24th, 2008 at 5:15 am
No rest for the wicked ™!
April 24th, 2008 at 3:29 pm
And, a brown bag on what? Why not blog it?
April 24th, 2008 at 5:59 pm
Brown bags are on the wrong end of the learning curve to blog about…
April 25th, 2008 at 5:16 am
I don’t understand.
April 25th, 2008 at 11:33 am
Well, I meant to say that I like to blog about less well-though-out-more-exploratory issues than are covered in brown bags. Lots of other folks cover current research, so I tend to stay away from that. I guess the “UCD econ in the news” features are an exception. To me brown bag content is too narrow (it tends to extend current research) and deep (technical) for interesting blog posts.
That said, I came across some interesting data that I’ll share soon enough.
April 25th, 2008 at 1:13 pm
Just keep in mind that investment banking isn’t like betting on horses. The funds invested in one good start-up are often pulled from other similarly viable start-ups.
Though, I can’t think of a good way around that. I’m just pointing out that when an investor chooses to throw their support behind one out of thirty ventures, it doesn’t mean that the other twenty-nine were bad.
Also… they don’t always make great choices. So it’s more accurate to say: “They pick winners, except when they don’t.”
April 25th, 2008 at 8:55 pm
Right. To the extent the pick winners (and leave losers unfunded), they’re providing a value adding service.