With unprecedented investor demand for the largest IPO in history (SpaceX), it's worth remembering a simple lesson:
A great company doesn't always make for a great investment at any price.
The median major IPO lost 31% in its first year & suffered a 53% drawdown along the way.
How rare is a massive $VIX spike?
VIX has existed since 1990 and this list shows every single calendar year in which the "fear index" got over each major milestone.
Is it less scary because it's so rare or more scary because they've been happening a lot more recently?