IPOs

I have never participated in an IPO (except the time I worked for a company that went public).  I get invites to participate from Fidelity regularly, though I sense Fidelity does not always get access to the best ones.  I did indicate interest to participate once last fall.  But then I forgot to send in final authorization.  That forgetfulness cost me about 30%!

I thought about the upcoming PSPX (Phillips Mid Stream IPO).  I read the S-1 (ok I skimmed it). I did not like it as the yield was relatively low and I would be a secondary owner, which meant that if profits really went up, they would go more to Phillips than me. That did not seem fair.

I did sign up today for a trial with IPODesktop (pre & post IPO: IPOs, Initial Public Offerings).  It is only $150 a year and frankly that could pay for itself pretty quickly.  I will let you know when I use it and how it works for me.  As it is a premium service, I will not let people know until the day of the IPO.

Off to work now.  Yesterday was another blowout day and I am now leading the R3K by over 2% on the year.