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My uninformed opinion is that many of these new internet IPO stocks are “greater fool” investments: They were bought for the purpose of selling to others withou
by raganwald 15y ago
My uninformed opinion is that many of these new internet IPO stocks are “greater fool” investments: They were bought for the purpose of selling to others without a lot of regard for their underlying fundamentals.
A general decline in the stock market hits the demand for “fashionable” and “greater fool” stocks hardest, so I expect professional managers to dump them quickly.
- jbooth 15y agoThis is my read, too. People bought them thinking that it was 1997, turns out it might be more like 1937.
- dpapathanasiou 15y agoIn that context, GroupOn's first-day IPO performance (assuming the IPO still happens) is going to be interesting.