How did a company best known for wasting people’s time (when it’s not violating their privacy) become the IPO stinker of our times? Because people forget that it’s been proven time and again that the only proven winners in IPOs are the issuers, insiders and underwriters, with favored clients like hedge funds and institutional investors the only ones able to benefit consistently from IPOs that perform well out of the starting gate.
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Ron Russell Editor’s blog |
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Silicon Valley
When the “smart money” on Wall Street gets burned, you know someone is going to pay. Forbes takes a sober-eyed look at Facebook’s disastrous IPO under this headline: “Facebook Fed the ‘Ignorant Masses An IPO Lite’” and then prints a few eternal truths about investing that were scarcely to be found in the media hype leading up to the Facebook market debut. An excerpt:
