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Michael Cembalest Takes Us to School

The Compound and Friends

CHAPTER

The Benefits of IPO Flipping

Michael: Not all IPOs are bad and not all SPACs. But for every- For investors buying every non-SPAC IPO since 2010, median and average net returns based on a seven-day holding period were substantially positive for every sector and subsector. And in the same way that the SPACs have been an empirical, uh, tarpit, I really haven't seen too many things where the risk return benefits are as favorable as being an IPO flipper. Michael: Is there a legitimate argument that he's kind of stuck on this? Well, we can move on. My two pieces were called spaxine hesitancy and hydraulic spacking.

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