Car Alarm Salesman Alarmed By Stock Sales Practices - DealBreaker

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I recommend reading this letter from Darrell Issa and friends to the SEC about reforming IPO practices, it is a nice mix of boring and thought-provoking and subtly crazy.

The basic intuition here is (1) it is weird and un-American that IPO prices are set by the judgment and good graces of investment banks rather than “the market,” and (2) it is weird and suspicious that on average...

via dealbreaker.com

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