Thanks Mike_Au1;The book also goes into the surge of IPO's that...

Thanks Mike_Au1;

The book also goes into the surge of IPO's that occur during booms. The recent mining boom in Australia is one which relates to our market.

The surge in IPO dilutes interest in performing stocks and adds weight to the sector involved. Therfore diluting earnings despite the increasing size and interest.

Long term, sectors that are out of favour offer the best returns. Dividends and modest capital growth !!!

All the best.