有了解vc和pe的牛人可否解释下这两句谚语? "Dogs die before winners run" and "Lemons mature faster than pearls." http://www.enterprisehonolulu.com/html/pdf/Final%20Draft%20Cap%20Form%2010.01.2003%20Rev2.pdf 第42页 The reasons for the J-Curve pattern follow: "Dogs die before winners run" and "Lemons mature faster than pearls." Writedowns and write-offs of investments come early in a partnerships life, while ultimate realizations, and capital gains, often take much longer to develop. Although the highflying years of th