|WHAT IS RISK?|
|Written by Maribel Berges|
|Thursday, 12 May 2011 11:38|
In the last 10 years banks have fueled a bubble in housing prices was clearly unsustainable, even by those who are not experts in economics. Since 2007, there were also articles in several international financial resources provided for the disastrous end we just saw, with the boxes converted into banks and recognizing a devaluation of its real estate assets 50%. To some extent it seems reasonable that investors entering a sector that significant growth figures year to year, but the question is, why not devote some resources to other things? Why do some diversification, modest as it had been? At last, after all, why risk confusing the temerity?
During the same period, technology companies in general and the biotech sector in particular, have heard time and again that their projects were too risky to be funded or for credit. A friend recently explained a conversation with a bank manager telling him that if the banks and savings banks had invested in technology companies that have released all in real estate, have also drawn a lot of money, but surely would have made up a productive industrial sector future. It is often said we need a success to convince investors that this is an attractive sector that we can run too, but the truth is that we have success stories relatively close: Pharma companies such as Admiral and Sea have could bring new pharmaceutical products to international markets and just last week Ysios Capital Partners, a fund manager based in the Barcelona Science Park announced it has tripled (at least) the investment made a year and half ago the company BioVex American, who has just been bought by Amgen.
Therefore, we have very close experience and success stories are not so far. What therefore prevent investors and institutions to enter this sector? Probably a certain perception of risk is very subjective: we all know what a floor and was easy to see how prices rose continuously, but the technology sectors are more difficult to assess and, therefore, the sense of risk is much higher. But now that we have tested, and of course to put all resources in one sector has been a big mistake and that production has left the economy in an almost critical. The rash is not starting to invest in innovative businesses now. Unfortunately we can not think technology sectors will begin to pay immediately or, above all, that may solve the problem of unemployment in the short term, but what choice do we have?