By Joe Horowitz, managing general partner, Jafco Ventures
As a 30-year veteran of the venture capital business in Silicon Valley, the cycle of our world has become all too familiar. During times of recession the economy is stimulated with low interest rates and once they get low enough, the yield on bonds and other fixed investments becomes so unattractive that money starts to flow into equities. Stocks begin to be described as bargains as CEOs of public companies scramble to trim costs and improve profitability.
Image: VC Joe Horowitz says investors should dial back their excitement a few pegs. (Credit: Jafco Ventures)
