Ted, you are doing a great job, as usual.
If you get a chance to speak to Greg Hymowitz (or however he spells it), tell him that his lame rant about underwriters not manipulating IPOs was so weak, so stupid, so goofy, and so wrong, that it would have surprised me if he were not a broker.
If you're interested, call ANY broker at ANY firm that has EVER done an IPO and ask them if they "suggested" or "coaxed" or "politely requested" that their clients who were going to get IPO shares try and buy a few more shares on the opening day to "help support" the deal.
Greg will tell you loudly that no broker is allowed to sell shares of stock that don't trade yet (true), and Goldman Sachs is at the mercy of Fidelity. (maybe, but that doesn't stop every single broker who sells an IPO from going along with the Company Plan to Support the Deal. This is all very, very well know inside the industry.)
Greg's lying and he knows he's lying. Now I turn the sound off when his lying little face appears on CNBC.
Keep up the good work, sir!
TLC
P.S. Please say hello to Sue for my cousin, if you would please.
P.P.S. Here is something for Bob...excellent charts...he should like it....
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