IPO Report Is Nostalgic for 1996
Grant Thornton put out a white paper today about why the IPO crisis is in fact structural, not cyclical. Much of it is familiar territory for those who’ve followed the what’s-wrong-with-the-IPO-market debate over the past year. Key culprits: A lack of research and marketing of research for small-caps, momentum-trading hedge funds squeezing out long term investors, cumbersome regulation, and even technology, for pushing out the profitable retail broker model. (Full report here) So what to do? I spoke to David Weild, co-author of the report, a senior advisor at Grant Thornton and former NASDAQ vice-chairman. He suggests turning the clock back, at least in some ways, to the idyllic IPO market days of the mid-1990s.
6 October 2009•3 mins read
