No. of Recommendations: 11
I saw the same article and was going to mention it, though probably on a different board. Nice summary in most respects.
Two notes---
(1)
He things we are not yet in the end game, as "To be 1999 again, the IPO market needs to ignite, with my gardener telling me how much he’s making every day."
FWIW, this is the top headline on Yahoo finance this morning:
IPO's surge in August with companies 'striking while the iron is hot'
So maybe we are a bit closer than it might first appear?
(2)
The part of his article that left me a bit queasy was this bit of advice...
"That’s because winners become ever more concentrated. So they are easy to pick — even if it feels wrong to own them. Then, as soon as the bubble bursts — don’t worry, you’ll know — switch to passive funds again.
Sometimes it is hard to get out of bubbly stuff when the getting is good. Either picking the wrong general time frame to sell out, or waiting till the exit gets crowded and prices are in free fall. I tend to agree with him in general, but it isn't exactly a safe approach.
: )
Jim
