But leveraging equity crowd-funding alongside more traditional money sources can be a powerful combination, especially for consumer-facing companies.
In that same interview, Mr. Black also eschewed the notion of investing in high-tech companies and said that any future leveraged buyouts would be "more rational" and involve "less leverage, more equity".
But in 2006 Goldman Sachs came up with a plan to leverage its equity research, funneling short-term stock tips to its biggest trading clients.
Instead, they're opting to rent in urban environments that offer greater flexibility for travel and the option to leverage the equity in their homes.
Thus, there is scope for a financial regulator to intervene to mitigate this externality through regulations like caps on household leverage or equity requirements on certain types of loans.
And by using mostly borrowed capital - or leverage - the equity investors often enjoyed phenomenal appreciation in the value of their holdings by selling off some assets and using the company's cash flow, not to build profits, but to pay down the debt and allow the equity to grow swiftly.
In the second part of this course, we will examine the foundations of brand management and will focus on the tools and techniques needed to create a meaningful brand, position a brand, promote a brand, leverage brand equity, and communicate brand meaning via traditional and digital media.
"There are real opportunities to responsibly leverage your equity to help fund retirement," said Clements.
Then there are hedge funds using lots of leverage, private equity firms buying public companies, the new merger wave and all those share buybacks.
