As everyone watches the SpaceX IPO today, its worth remembering this advice from Buffett
"The idea that a newly issued security (IPO)—brought to market at a time of the seller's choosing and surrounded by massive hype—is the single best bargain among thousands of global businesses is absolute nonsense.
When an offering carries a ridiculous 7% commission just to incentivize salespeople, it simply cannot be the most attractive investment available.
While people easily get caught up in the excitement of a new launch, look at the reality: you have thousands of existing public companies whose prices are set by a natural auction market, free from aggressive promotion or hidden fees.
It makes no sense to buy a security precisely when an insider decides the timing is perfect to sell. Frankly, it isn't worth spending five seconds thinking about IPOs."
- Warren Buffett
@Breaking57 Too bad the security didn’t beat the hell out of this dude recording, these people that record in public places just to piss people off is getting really annoying
@danielisdizzy Respectfully since his prime markets have largely disconnected price from fundamentals on many names. Companies with no rev or profits making insane moves. How else with you capture without TA