> The valuations of these companies are probably on the high side and I'd expect post IPO share values to drop quite a bit and would not personally consider buy

> The valuations of these companies are probably on the high side and I'd expect post IPO share values to drop quite a bit and would not personally consider buying anything until after that happens. The problem is that you ARE buying them precisely at the high IPO prices if you have retirement/pension funds that are invested in market indexes.