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IPO's are Brokerage Firms Cash Cow. They could care less about the firms they represent, nor the poor saps that buy their trash on IPO day. The Merrill's, the Goldman Sachs, the Morgan Stanley's, the Lehman's, and many many others could care less about YOU. They get paid HUGE bucks for pricing toilet paper at a premium, only to turn around and use the financial arms of the world, CNN, CNBC, ect. to pump this trash in order to get it out the door. That's the key here, folks. GET IT OUT THE DOOR AT ALL COSTS. They will use any means necessary to do so. From this day forward, I will never trade an IPO on it's first day, and encourage the retail investor to do the same. The brokerage firms are still making huge bonuses while the market has pummelled many. That's a little sickening, don't you think?
Well it's time for payback, and the only way you can do this is buy not buying their overpriced trash on IPO day. Stick it where it hurts them most. There is plenty of $$$$ to be made on trading the current trash in the market. Don't endulge them by buying their over priced toilett paper. Wait 2 weeks to a month for the dump, so you can pick up the same high priced trash they tried to push on you, at bargain prices.
All thoughts are welcome, including analyst's specific targets and creative marketing techniques to unload their worthless toilett paper.
KM
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