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"Groupon looked like a very high valuation," Horowitz said, "but any investment in a great company at any stage is almost always a good investment."

I don't think I'd want to hear that statement come from someone who is investing my money.

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You should be comfortable hearing a sentence such as that. Horowitz is clearly generalizing, but a great company will always make a return on investment. Obviously in this particular case Groupon is going to give investors a smaller return now than it would have 6 months ago, but it's still a winning strategy. Great companies keep growing - which is more than a good reason to invest.

Depends. Even great companies can be too expensive. But the stage doesn't matter, like Horowitz said.

Buffett does quite well while sounding somewhat similar. He also looks at the price, though.

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