IPO Fever
Made paper gains of about $800 from applying for IPOs of GLP and MIT. Would have made another $70 if I was successful in the IPO of Munxiong this morning. It feels like the days of old when one simply anyhow hatam and made money and occasionally losses. This coming on the back what was known as the Global Financial Crisis is a little worrying. All signs seem to say that people have not learnt their lesson. Wall Street is back to their high-spending high bonuses ways after only so recently having to beg governments for help. US is printing money like nobody’s business.
Question now is what can we do? Ignore the world and squirrel our money to biscuit tins under our beds? We cannot beat inflation. Join the party and hope to get out before the party becomes a riot and the police arrives? That seems at least like the best solution.
Meanwhile I gave up on the other china ipo but is eyeing Xinren Aluminium. I’m now fairly suspicious of china companies, having been burnt a few times, most of them are out to make a quick buck. But then again, with the ever rising commodity prices, aluminium has good prospects.
