Brainy's Share Market Toolbox
An arsenal of weapons to help you tackle the share market.
Monthly Share Market eNews email update
IPOs - are they worth a look?
eNews + eBook Articles Update #57 - November 2013
Dear Reader,     
This month's Share Market eNews email is going to all of our subscribing Share Market Toolbox Members as normal, and to the non-Members who have expressed an interest in receiving it.


IPOs - Are they really worth looking at?
Or are they capital killers? 


There are more and more news stories now about the flood of Initial Public Offerings (IPO) that are coming to the market. We seem to be at that point in the economic cycle where companies are feeling like it is the right time to come to the market and look for some cash. But are they worth it? Should retail investors invest their hard earned cash in IPOs? In reality it might not be a good idea at all. See more details below.
Over the last two months I wrote some materials on the topic of exit strategies - one that is hardly discussed, but very deserving of more discussion. I was planning to expand further on this topic in December, but it might have to wait until January because the topic of the infamous Santa Rally is again raising it's head. I commented on this phenomenon over the last couple of years and I need to put that material into the public arena for easy reference.


Any non-member who no longer wants to receive this material on a regular basis can simply unsubscribe from ALL topics using the SafeUnsubscribe link at the bottom - or just Update Your Profile to change your interests. (NOTE: Toolbox Members and BullCharts mailing list members should not unsubscribe, as it will remove you from all my mail lists.)

Please remember, anything mentioned here, and in the referred eBook Articles, is for general education only, and is not advice of any sort.

Please read on....  

About the eNews emails...
Just a short note to the recently new Toolbox Members:- These share market eNews emails always go to Toolbox Members (a part of the Toolbox service), and to the people who have registered to receive occasional information about the Share Market. This is a monthly email with some pointers and tips on focused topics - see a quick intro to the eNews emails. They often include references to specific eBook Articles in my Share Market Toolbox, as well as key web pages in the free area of the Toolbox (eg. on the extensive Share Market web page). I have been writing the eBook Articles since October 2008 - that's more than four years, and these eNews emails help you to navigate to related and useful information each month.
This month's focus:
Initial Public Offerings (IPO)
Initial Public Offerings, or share market floats, call them what you want. Are they really worthy of consideration by the average retail investor? Or is your money better off somewhere else? You might be surprised at how often an IPO flops.
Empirical research by academics over the years has shown a few problems with share market floats, including general but severe under performance.


Robert, please read on...
Recent monthly focus topics
Since starting this new format for the monthly eNews email in December 2010, I have accumulated many topic-specific discussions. Refer to the latest detailed list of topics in the eNews email archive in the Toolbox.
In This Issue
Recent Topics
The eBook Articles
Articles summary
Front pages
Any Problems?

Robert is always very happy to receive feedback about the Toolbox, and the articles and weapons therein.

Please feel free to contact Robert by email or phone.

Contact Us..
Quick Links

Articles Master List of all eBook (pdf) Articles

Introductory information About the Articles

Detailed Topic Index

Robert's BullCharts charting software Knowledgebase
The latest
Table of Contents pages for:
Share Trading,
Technical Analysis

Share Market Toolbox - What is it?

Go to the Online Shop to become a
Toolbox member. 
Join as a Toolbox Member by printing the
manual order form
complete the details and send in the mail with payment.
The Members Area Gateway (lists all Toolbox features)  

Price charts summarise the underlying opinions  
and emotions of the market participants. 
Every chart tells a story. It's helpful to 
understand the stories in the price charts.
IPOs - Are they worth investing in? or is our money better off elsewhere?
In this month's focus on IPOs I have posted a new web page:
Just one new web page doesn't seem like much, but it took days of research, and resulted in more than twelve high profile examples of IPOs from over the years, with 36 supporting price charts - some of which show the huge early-day profits that can occasionally be made, and with many showing the disappointing long-term performance of the company in the months and years after the float.
The companies featured include: Twitter, Freelancer, Sealink Travel, OzForex, iSelect, Xero, QR National, Facebook, Myer, BrisConnections, Asciano, Boart Longyear and Telstra (three floats). Some of these are technology companies, and interestingly, some of the more successful floats these days are in tomorrow's industries (such as technology). This reiterates what Nicolas Darvas wrote about investing in his infamous book "How I Made $2,000,000 in the Stock Market". He discovered that success was more likely when investing in new generation companies in new industries. Toolbox Members can refer to my eBook Article ST-6440 for introductory information.
Don't forget to see the updated Table of Contents pages for all articles (see links in the side-bar at right). There are now a total of 134 Articles in this collection of eBook Articles - a whopping total of 613 pages of information! You can see the Table of Contents for all eBook Articles here (recently new or updated ones are highlighted), and the Master Toolbox Index here. 
eBook (PDF) Articles - Summary

Since October 2008 I have accumulated quite a collection of eBook (PDF) Articles on three subject areas - Share Trading/Investing, Technical Analysis and BullCharts software (actually more than 550 pages of material in more than 125 articles). These Articles are invaluable for both new and experienced investors and traders. I am now writing brief monthly notes in this eNews email to highlight specific Articles on targeted topics. I am also writing new Articles and updating existing ones as required. For more information please see:

Article front pages 
For any new readers of my Toolbox eBook Articles, there are some useful introductory Articles including an Introduction and an Overview Article for each of the three subject areas. You can see them here:
Any problems?
What if you have some sort of problem with accessing the Toolbox and any of these Articles? Or maybe the Username and Password doesn't work. If there is any problem at all, simply contact me by email or phone. The best email address for this is: Occasionally emails disappear - the system thinks they are spam, or the ISP might think they are spam. If I don't reply within a day or so, please contact me by either email address or phone.
In Closing

There is nothing secret in this email, so feel free to forward it to someone if you think they might benefit from the information, or from being a Toolbox Member. The easiest way to do this is to use the "Forward Email" link at the bottom. 
I am also confident that my Toolbox Members won't be sharing their username and password with non-members. It is not fair that I spend all this time preparing the materials, and then my Toolbox Members pay money to have legitimate access, only to let some people pay nothing to read and view the details.
Please feel free to email an individual Article to others as a sample; but if they want online access to all the materials, it is pretty cheap, so they should subscribe as a Toolbox Member. There is information about Toolbox Membership in the Quick Links section at right. 
Always happy to receive feedback, or suggestions for new content or improvements.
Until next month,
happy investing or trading,

Watch out for the sharks in the ocean! Robert B. Brain
(mobile: 0438 355 910)

ps: watch out for the sharks in the ocean!  

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Robert Brain (Brainy) | 23 Nathan Street | Ferntree Gully | Victoria, | 3156 | Australia