Fortress IPO?

You make a good point....

 

Only good companies go public. Maybe they need money to invest globally in all the countries.

 

Like Vonage?

 

Vonage IPO at 13.5 and went to 5.76, not good

Why did it go down?

 

Terrible company with a terribly unprofitable and competitive service/product....


It was previously privately owned and went public.

 

I talked to the door greeter at Wall Mart. People been asking when ees the little man going to be able to invest in a hedge fund.

 

Now ees man can buy the Hedge fund stock.

 

Fortress Investment Meets Crazy Eddie

Posted on Feb 8th, 2007 with stocks: FIG

Greg Newton submits: The demand is insane!

http://seekingalpha.com/article/26481

To the amazement of absolutely nobody I can think of, Friday morning’s scheduled IPO of Fortress Investment Group (FIG) – the $30 billion more-or-less in assets private equity and hedge fund group – should provide lots of financial entertainment.

The Financial Times reports the deal 25-times over subscribed with demand crazyeddie“insane and ridiculous,” and, it seems, nobody in the slightest bit concerned about that recent 33 percent write-up in the value of its private equity book.

With the indicated price range of $16.50-$18.50 already representing at least 18-times estimated 2007 earnings – or getting on for double Goldman Sachs’ marginally more predictable number – it will be interesting to see:

1. Just how greedy they get with the pricing – my bet: $22 – to avoid the Nymex-style embarrassment of leaving ludicrous sums on the table, and

2. Just how far the great unwashed drive the price before the day is out. A 3-handle is probably a stone cold certainty, and a 4-handle not out of the question.

Just saying, not playing. As is, I assume, the estimable Mr Kessler.

Hedge fund of funds [$$]
by Andy Kessler
The Wall Street Journal Feb. 7 2007

 

A lot of people will buy this stock so it goes up. I will buy too. So it goes up more.

 

You will buy it after it goes up. Trust me.

Same old song and dance with these IPOs. If you weren't privately placed, you'll get washed and rinsed.