pipick,
A little cynical are we <g>?
> let me make one thing clear:investment banking firms do deals
> because it makes money FOR THIER FIRM. That is the ONLY reason. They
> could care less about what happens to the company they finance.
Based on what I have heard from analysts of a few boutiques on Bay Street, CIBC is known for quality of their research. Investment banks really do care about what happens to the companies that they finance because it ensures that they make money for their firm. CIBC has been known to maintain a high level of integrity in their financings and has turned down several potentially lucrative deals because they did not believe in the issue. Investment firms will not bring something public that they cannot recommend.
IPO's are where firms make the most money. If their companies flop, institutions (where they sell most of their IPO's), will be more reluctant to buy from them in the future.
I don't know about your arguments for TVL not being a good investment, and I'm not very partial for it being at the price it is in my portfolio, but if you are going to come up with an argument for selling it, there are better ones without alluding to false assumptions.
You can sit around all day and discuss conspiracy theories, but when it comes right down to it, all we can do as investors is either inform ourselves as much as we can in the companies that we invest in, or sell. Plain and simple. Arguing what could possibly be, without a shred of information or proof to base a theory, is not only a waste of time, but hard on the nerves.
Clement |
