Mark Sellers: Take advantage when good companies come to market
Read the full article at: http://www.ft.com/cms/s/0/916c5a94-e1a3-11dc-a302-0000779fd2ac.html
Submitted by SilverSlime on Tue, 2008-02-26 20:48.
(via www.ft.com)
When Google completed its initial public offering in August 2004, the stock seemed overpriced. Even after reducing its IPO price from $108 to $85, the company’s trailing price/earnings ratio was well over 200. Journalists, analysts and market pundits exclaimed that Google was the most overpriced IPO in years, and warned investors to avoid it.
