posted by mark
on Wed, 10/16/2019 - 07:49
Typically investment banks make out on IPO's, but this time it wasn't so good.
Even a cursory evaluation of many of these IPO's would have indicated bad investments. Banks don't care about the long term results of the IPO's. They are more interested in the immediate results. Pump the crowd with road shows and get the momentum moving up. Once the momentum is moving up, get rid of it.
The oldest theory on Wall Street is the greater fool theory. Looks like the fools have been identified.
