IPOs for Everyone: The 12 Secrets of Investing in IPOs

"Renaissance Capital has an edge . . . they provide first–rate research."–Jay Ritter, Professor of Finance, University of Florida

EXPERT ADVICE FOR IPO SUCCESS

"The Rosetta Stone of individual investors trying to understand how IPOs fit into our free market capital system and how to profit from IPOs."––Mario Gabelli, Gabelli Asset Management

IPOs are here to stay and savvy investors need to incorporate them into their long–term investment strategy. According to expert authors Linda Killian, Kathleen Smith, and Bill Smith, founders of Renaissance Capital and the IPO+ Aftermarket Fund, IPO success lies in using the right strategies to choose the winners and avoid the losers. Features of IPOs for Everyone include:
∗ The authors′ 12 secrets to choosing and investing in IPOs
∗ Inside knowledge of the IPO market
∗ IPO terminology and sources

Take advantage of the expertise in this invaluable book–and get in on the ground floor of today′s most rewarding investment opportunities.

Exhibits.

Introduction.

How the IPO Market Works.

The Way Wall Street Works: Why You Can′t Get IPOs and What You Can Do about It.

How to Have IPO Intelligence.

Mining the IPO Prospectus.

What Makes a Good IPO.

How to Avoid Bad IPOs.

Internet and Technology IPO Basics.

The Potential of Global IPOs.

How Management Helps or Hurts an IPO.

How to Trade IPOs.

The Sustainability of IPOs.

Finding the Right Resources.

Appendix A: Directory of Underwriters.

Appendix B: Top 25 IPO Underwriters.

Appendix C: A Short History of IPOs.

Glossary of IPO Terms.

Index.

LINDA R. KILLIAN, CFA, has nearly two decades of investment management and equity research experience. Prior to founding Renaissance Capital, she was a portfolio manager and analyst with Citicorp Investment Management and Wertheim Schroder.
KATHLEEN SHELTON SMITH has spent over twenty years working with IPOs as an investment banker and portfolio manager. Prior to founding Renaissance Capital, she was a director of Merrill Lynch Capital Markets′ Technology and Emerging Growth Investment Banking Group.
WILLIAM K. SMITH is a founder and portfolio manager of Renaissance Capital. He was a senior investment banking executive with Kidder Peabody and Bear Stearns. He is the author of the book Strategic Growth Through Mergers and Acquisitions.
RENAISSANCE CAPITAL, located in Greenwich, Connecticut, runs the IPO+ Aftermarket Fund, the first mutual fund focused on IPOs. For up–to–the–minute information on IPOs, visit Renaissance Capital′s Web site: www.IPOhome.com.

TODAY′S IPOs ARE PRICED TO MOVE
The truth is that if you′re not a big–money player who can flip a new issue fast, IPOs
are rarely good bets. But that may be changing.

Maybe the only job tougher right now than being Bill Clinton′s spokeswoman is selling new stock on Wall Street. In the first two months of 2000, there were 70 initial public offerings. So far this year? Nine, a low not scraped since 1979. Five of these new stocks are already under water–cold certification that so far, 2001 is an IPO bear market.
What should you make of this? If you′ve ever wanted to buy a new issue, now′s the time to get serious. For prospective IPO buyers, "this really is the best time, because there is no competition for these deals," says Linda Killian, a partner at IPO investing boutique Renaissance Capital and co–author of the new book IPOS for Everyone, "They get priced to move.". . .
––by Robert Barker, BusinessWeek