Professor Glenn A. Okun
The Rabid Capitalist: The Big Point is a summary of a detailed note available to paid subscribers.
This year, the IPO market rekindled private investors’ hopes for a liquidity event, but that confidence appears to have been misplaced. An aura, a sensory disturbance prior to an epileptic seizure, hangs over the new issues market due to the cancellation of the Oura IPO. While an aura is a short-term effect, the IPO market continues to be plagued by a longer-term brain injury. This impending collapse in new issue volume will give venture capitalists and their investors a migraine headache.
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