>>You may have been advised that there is a fair amount of anxiety amongst small and also long time Safeguard investors about the manner in which the ICGE IPO will take place. My particular broker does not want to hear about it.<<
Now what else have they screwed up!?
As a SH, I just hope it doesn't become actionable.
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FWIW- NYTs article:
Feeding a Frenzy: Why Internet Investors Are Still Ravenous
By LAURA M. HOLSON
ALO ALTO, Calif. -- The ink on the first draft of the history of the
Internet stock boom isn't yet dry, and the revisionists are already
having their say.
Even as Internet shares were tumbling from their highs, three of the
companies backed by Accel Partners, a venture capital firm, went public
last month. Though their net losses total $56 million, the three now have a
combined market capitalization of $10 billion.
"Astounding," James W. Breyer, the firm's managing partner, calls that
performance, echoing the giddiness common in Silicon Valley when
people talk about the Internet.
But in the same breath, Breyer decries the shortcomings of the crop of
new offerings following in his companies' footsteps. "We've had far too
many low-quality companies go public," he scoffed. The recent market
turmoil that has sliced the value of many Internet stocks in half is making
investors more discriminating, he added approvingly: "Investors can more
easily distinguish between companies building a long-term business and
those which have been merely opportunistic."
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