Europe’s Goldilocks Environment

I saw a graph from Anne Glover (of Amadeus Capital Partners) at a presentation yesterday of numbers which hadn’t fully resonated with me previously. It highlighted the sharp divergence of numbers of IPOs on the two markets in 2006:


As Anne rightly pointed out, this doesn’t mean AIM is doing things right, simply that NASDAQ is doing things wrong.

Another flash of insight from the Amadeus camp came courtesy of Hermann Hauser in a recent Alarm:clock interview, he sums up a sentiment I’ve held for the past 12 months very well:

"…[European venture] is a "Goldilocks environment".

In other words, it’s not too hot and not too cold; it’s not too hard, nor too soft. And it isn’t too big, nor too small – it’s just right."

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