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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Grommit who wrote (36024)11/25/2009 10:53:24 AM
From: MCsweet  Read Replies (1) | Respond to of 78666
 
All IPOs involve significant underwriting fees. The underwriting doesn't come for free. Recently, companies have amortizing some IPO fees into greater yearly fees, but basically always assume that someone is taking a good chunk off the top.

That it is why it is almost always a bad deal to buy a closed-end fund, BDC, or mortgage REIT on the IPO.

MC



To: Grommit who wrote (36024)11/25/2009 11:08:38 AM
From: Paul Senior  Respond to of 78666
 
FSC: Still, insiders keep buying small amounts of the stock, and the stock issuance price of $10.50 was subscribed, which to me means a buyer now at $9.92 gets the stock at a discount to that.

Heavily overcompensated these guys may be. It's to be seen whether they can and will deliver performance to the other shareholders.

I'll consider it further; for right now, I'll continue to hold.


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