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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: elmatador who wrote (69721)	6/21/2008 1:07:10 PM
From: Snowshoe	Respond to of 74559

dupe

To: elmatador who wrote (69721)	6/21/2008 1:12:03 PM
From: Snowshoe	Read Replies (1) \| Respond to of 74559

Looks like your bankers are just like ours... ;>) SUBMERGING MARKETS: Brazil's IPO Rush Hits Rough Patch By ANTONIO REGALADO June 20, 2008; Page A1 SÃO PAULO, Brazil -- Brazil's stock market is one of the best performing in the world; its main index is up 22% over the past 12 months. But for investors who took part in an unprecedented rush of IPOs last year -- when 64 companies went public, more than on London's busy stock exchange -- the returns have been decidedly more mixed. Two-thirds of those IPOs are now trading below their offering prices. Some investors are blaming the banks that brought the deals to market, saying they cashed in on the frenzy for emerging markets by rushing to take unprepared companies public. Along the way, say investors, banks engaged in questionable practices, including lending some companies large sums before taking them public and then collecting extra fees on opening day. "It's a case of immense bank greed and a lot of naiveté on the part of investors with a lot of money on their hands," says Paulo Bilyk, co-head of Rio Bravo Investments, in São Paulo, which invests in the local market. "It's our version of the subprime mess." More: online.wsj.com