IPOs Don't Really Impress You

During the financial crisis everybody suspended their purchase program well which of course was when stocks were the cheapest they've been in a decade. They didn't have earnings either to say the least so I mean that's what that's how you end up with them overpaying. When things are cheapest they're in the least strong position to buy to a certain extent but we know there's a lot of times the market goes down as he said.