yep when you are wealthy free money just pours in..... Warren Buffett’s Berkshire Hathaway just made a fast $1 billion on Snowflake’s surging IPO https://www.cnbc.com/2020/09/16/war...fast-1-billion-on-snowflakes-surging-ipo.html
Being able to buy a hot IPO before it goes public is the "definition" of value. We all should be doing exactly that every chance we get.
The market is NEVER "expensive" or "cheap", buy when it's going up, short it when it's going down, that's all there is to it, the rest is just conversation.
The absolute value is not that much interesting. What is more interesting is: how much profit in percent did this old sack make?
What few people know is that Buffet's fund lost 50 Billions in the past few months. "Unrealized losses" (who invented that freaking expression?) but still.
Don't the big players that get allocations in these IPOs have to hold them a certain amount of time before selling or get excluded going forward? It will be interesting to see where it is trading in a month.