Kalau cari donlot gratisnya emang search dimana yah kang
On 6/6/08, kang_ocoy_maen_saham <[EMAIL PROTECTED]> wrote:
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> Suggestion For Some Nice Further Reading Regarding the Topic,
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> http://ebooks.ebookmall.com/ebook/174561-ebook.htm
>
> Nah Kalo Donlot Gratisnya
>
> http://rs42.rapidshare.com/files/4345471/Gerald_A_Benjamin_-_Angel_Capital.pdf
>
> Cheers
>
> --- In obrolan-bandar@yahoogroups.com, Hanif Mantiq <[EMAIL PROTECTED]>
> wrote:
>
> >
> > *kalo market bearish, mungkin artikel dibawah ini bisa
> > menambah keyakinan untuk masuk ke market*
> >
> > How Angel Investors Get Their Wings
> > Backing entrepreneurs with good ideas can be a
> > moneymaker for these daring
> > investors who go where venture capitalists fear to
> > tread
> >
> > by Chris Farrell
> > BusinessWeek Magazine
> >
> > Not only can John Reid claim to have been visited by
> > angels, he is one. The
> > 61-year-old entrepreneur founded his Parkers Prairie
> > (Minn.) medical-device
> > company, AbbeyMoor Medical, in 1997 with seed money
> > from so-called angel
> > investors. Such people invest in promising startups
> > too young and raw to
> > attract the attention and money of professional
> > venture capitalists. Reid
> > has also helped fund several early-stage ventures, on
> > his own and with
> > fellow angels.
> >
> > The credit crunch and economic downturn have some
> > angels feeling skittish.
> > But others see opportunity: Studies show that the best
> > time to start a
> > business is when the economy is down. That's because
> > entrepreneurs with good
> > ideas will find cheaper land, labor, supplier
> > contracts, and other
> > ingredients that go into starting a business. Angels
> > that back such ventures
> > can earn impressive long-term returns—one study cites
> > a rate of return of
> > about 27%, on average, or 2.6 times the investment in
> > 3.5 years. The risks,
> > of course, are steep. Still, 258,200 angels pumped $26
> > billion into 57,120
> > ventures last year, according to the University of New
> > Hampshire's Center
> > for Venture Research.
> >
> > Any angel will tell you there's a significant learning
> > curve. But a big
> > transformation in angel investing is making it easier
> > to move up that curve:
> > the rise of more formal angel investing groups. It
> > wasn't all that long ago
> > that angels largely hooked up with entrepreneurs
> > through ad-hoc social
> > networks, friendships created over the years, perhaps
> > at the country club or
> > local philanthropic events. Since the latter part of
> > the 1990s there has
> > been a proliferation of more professionally organized
> > groups—usually with a
> > Web site—that screen investments and pool money on a
> > local and regional
> > level. Estimates of the number of angel groups in the
> > U.S. and Canada go as
> > high as 275. The groups even have their own
> > trade-and-education association
> > in Washington, the Angel Capital Assn.
> >
> > While many angels are current or former entrepreneurs,
> > and that background
> > can prove invaluable, they also need to develop
> > investing skills. The
> > successful angel adheres to the same disciplines that
> > make for a good
> > investor, from Berkshire Hathaway's ("BRK-A") Warren
> > Buffett to Yale
> > University's David Swensen. Understand the risks.
> > Follow an intellectual
> > framework. Have a well-thought- out methodology for
> > buying and selling. Do
> > due diligence. Diversify. "Angel investing isn't easy,
> > and it's very high
> > risk," says Tony Stanco, executive director of both
> > the National Council of
> > Entrepreneurial Tech Transfer and of Angel Investors
> > of Greater Washington.
> > "But it's high reward."
> >
> > Experienced angels recommend that investors create a
> > diverse portfolio as a
> > buttress against inevitable failures. After all, these
> > are companies with
> > little cash flow and no operating history. Angel
> > groups funded, on average,
> > about seven companies in 2007. Only a small percentage
> > of an angel's capital
> > should be at risk—no more than 10% of investable
> > wealth, counsels Susan
> > Preston, currently general partner of the California
> > Clean Energy Fund's
> > Angel Fund, a public investment fund that takes equity
> > stakes in alternative
> > energy ventures. Longtime angel Richard Holdren, a
> > Houston-based serial
> > entrepreneur who has founded or invested in over 26
> > health-care startups,
> > adds that it's critical to keep emotions in check.
> > "You make money in angel
> > investing by killing off your losses early, as quickly
> > as possible," he
> > says. "The entrepreneur really believes that success
> > is just around the
> > corner, and you'll quickly go broke investing for
> > 'just-around- the-corner. '"
> >
> > Angels rightly tend to focus their efforts in the
> > industry they know.
> > Stanco, for example, was formerly an attorney at the
> > Securities & Exchange
> > Commission working with the software and computer
> > group. His investments are
> > concentrated in software. Reid is well-schooled in the
> > medical technology
> > business.
> >
> > But to get a wider range of perspectives and deals,
> > and to pool resources,
> > many angels—including Reid, who lives in a largely
> > agricultural community
> > with a population of 1,032—join angel groups.
> >
> > THE "REAL DEAL"
> > Reid belongs to a group of 26 angels affiliated with a
> > larger umbrella
> > network, RAIN Source Capital, based in St. Paul, Minn.
> > RAIN organizes small
> > groups of angels in mainly Midwestern states into a
> > network of some 400
> > members. That makes it easier to develop a deal flow,
> > pool money, and share
> > expertise. Angels living in Grand Rapids, Mankato, St.
> > Cloud, and similar
> > Minnesota towns have invested some $7 million in
> > Reid's company. "We get
> > prospects in front of the network to find the members
> > who will say: 'I used
> > to be in that business' and to tell us whether it's a
> > real deal," Reid says.
> > There could be a deal coming in Mankato, he says, that
> > "we never would have
> > seen without the RAIN network."
> >
> > The level of professionalism at angel groups is all
> > over the map. Some mimic
> > professional venture funds, a number have forged close
> > ties to universities,
> > and others are more like social clubs engaged in
> > for-profit philanthropy. A
> > common mantra among angels and angel groups is the
> > importance of due
> > diligence. That means pursuing questions like: What is
> > the market
> > opportunity, barriers to entry, and business model?
> > What's the company's
> > competitive edge? Is there an exit strategy? What is
> > the entrepreneur' s
> > background? "The biggest fallacy is that 98% of people
> > think if they have a
> > wonderful technology the business will take care of
> > itself," says Holdren.
> > "But the character of the entrepreneur is more
> > important than the
> > technology."
> >
> > What sort of return can an angel expect? There's that
> > rate of return of
> > about 27%, on average, a result reached by professor
> > Robert Wiltbank of
> > Willamette University and Warren Boeker of the
> > University of Washington in a
> > study of 539 angels from 86 groups in North America
> > from 1990 to 2007. The
> > return figure comes from 1,137 "exits" during this
> > time period through
> > mergers and acquisitions, initial public offerings,
> > bankruptcies, and shut
> > doors.
> >
> > Of course, averages can be a bit misleading. Remember,
> > on average Lake Erie
> > never freezes, and the stock market returns, on
> > average, some 11% a year.
> > With the return number for angel investing, keep in
> > mind that 7% of the
> > venture exits that the professors studied had returns
> > of 10 times investment
> > while 39% had a multiple of less than one times
> > investment. The Center for
> > Venture Research estimates that angels enjoyed a rate
> > of return in 2007
> > between 20% and 40%. "Invest what you could lose
> > without changing your
> > lifestyle," advises Jeffrey Sohl, director of the
> > Center. Inevitably, part
> > of the reward will be psychic. But it's fun to
> > remember the outcome of a
> > $100,000 investment that Sun Microsystems co-founder
> > Andrew Bechtolsheim
> > made to two Stanford University graduate students. The
> > check allowed the
> > students to move out of dorm rooms and start marketing
> > their revolutionary
> > idea. The result: Google.
> >
> > Farrell is contributing economics editor for
> > BusinessWeek. You can also hear
> > him on American Public Media's nationally syndicated
> > finance program,
> > Marketplace Money, as well as on public radio's
> > business program
> > Marketplace. His Sound Money column appears on
> > BusinessWeek. com.
> >
>
>
>
>
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