On October 9, 2009
It’s Like Old Times for IPOs and Insurers Are Piling In
Remember the go-go ‘90’s, when fast money was made in virtually every initial public offering? Shares of a fresh face would double on the initial day of trading, investment banks like Morgan Stanley that were managing the offering would grab their seven percent and no one would mind except for the average investor, who couldn’t get in on the IPO until all the money had been made. Those days seem to be back again, and insurers should get in while the getting’s good. No less a sharpie than Warren Buffett, the Oracle of Omaha, is very aware of that. Buffett hasn’t been making a lot of money in investing lately, but he’s doing bang-up in the IPO market. Yesterday Verisk, an…
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