Agree. The Sage of Omaha cautions against buying into an IPO. What are they selling the company for, if its that good? For a pure startup, it might make sense (need for capital to build the business), but for an ongoing concern - like Myer, Dick Smith JB HiFi, etc you need to be very mindful of growth prospects. Some have been very success (JBH) while others, like MYR have, in retrospect, been purely to allow the privateers to cash out at a high SP to sucker retail shareholders.
MYR Price at posting:
91.2¢ Sentiment: None Disclosure: Held
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