Bang on CS. People are confusing a relationship between Bergen and failed borrowers with a causal relationship. They would just as likely have failed if anyone else had lent them funds.
The difference is Bergen, by their own admission, lend to and invest in high growth and high risk businesses. That is why they are associated with more failed companies.
You may liken it to blaming a doctor in palative care for the death of his/her patients. If the patients are terminal, they are going to die regardless of how good or bad the doctor is so you can't use mortality rate as an indicator of the doctors ability
Bergen, page-16
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