That's possible, but I do have those coke-bottle glasses already - trifocals, actually. LOL I've been around stocks for 20-30 years or so, and I am well familiar with various research as well. It is a well established fact that IPOs typically underperform the market for the first year, which makes the IPO bubble stand out like a sore thumb.
One other reason that I think that this is a good decision is that the ready availability of IPO money to startups is critical to the health of the economy in the long run. A negative decision here could only have served to put a permanent problem on the IPO market of the future.
If you've written prospectuses, you know that there is no rosy picture painted there. Anyone who buys an IPO should be held responsible for reading it, and if they can't understand it, they shouldn't be buying IPOs.
Carl
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