[lbo-talk] happy days are here again!

[Matthew Snyder]

Doug Henwood writes:
> True, but you're forgetting that IPOs are more about the sizzle than 
> the steak - or the promise of sizzle, even. Decades of experience 
> show that buying IPOs is financial suicide (unless you're one of the 
> lucky ones cut in at the zero hour). 

Is there any way to level the playing field?  I've been hearing some buzz 
about the OpenIPO model:

	http://www.openipo.com/ind/auctions/openipo/index.html

	"The auction process allows shares of an initial public

	offering to be allocated in an equal and impartial way. All 

	successful bidders pay the same price per share."

Is this just putting a friendly face on a probable suicidal
investment?  And if not, what would attract a firm to use an auction
like this, instead of the usual IPO model?

--
Matthew Snyder
Philadelphia, PA