It is official – Facebook’s S1 has been filed. This might just be the first prospectus I’ll find riveting enough to read cover to cover. Now that the suspense has subsided, I must admit, I am somewhat disappointed. Not because of the company’s financials. The numbers were in line with expectations. Not because I foresee […]
Chasing Spreads in Private Company Secondary Transactions
I just read a fascinating article depicting how decimalization has caused the demise of the small cap IPO market and how the customization of spreads could provide a potential solution. If allowing issuers to determine their own trading spreads could improve the functionality of the public markets, I can only imagine the impact it would […]
The Evolving Capital Markets – 2011 Revisited, 2012 Forecasted
It’s that time of the year again – when we weigh in on the events of the previous twelve months and make our forecasts as well resolutions for the next twelve. Last year I made several predictions about how the private company marketplace (PCM) would evolve in 2011, and I’m proud to gloat that most […]
How Facebook’s IPO Could Transform the Capital Markets
Everyone, from the thousands of small cap underwriters who were banished from the business to the tens of thousands of people getting high in tents and occupying the nation, would agree that Wall Street is seriously broken. And Wall Street’s integrity is just as damaged as its shattered infrastructure. But while the infrastructure can be […]
Bipartisanship Prevails for Job Creation
Long before Wall Street turned into a campground it was like a dependable machine that kept capital flowing to our greatest job creators – America’s small businesses. At the heart of the system was the Nasdaq engine that transformed sheer innovation into economic prosperity for an entire nation. Regrettably, a combination of over-regulation and greed […]