Well-called!
Perhaps there was a time when momentum trading wasn't a part of the big-boys strategy. However, it certainly must be now. Algorithmic trading is hardly a "fundamentals-based" strategy for starters.
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Has any one received application forms to purchase the Trade Me IPO (not the register of interest)? I heard ASB securities was meant to come out today but have not seen anything. I also heard ASB Securties is meant to be first in first served so don’t want to miss the boat.
How does "first in first served", but "be prepared for scaling" work? So first in isn't first served.......
I'm out, can't be bothered with all this palava
No mate, I don't have a broker - I trust my judgement, and I'm a cheapskate, I use internet brokers to transact. That is one of the downsides I guess, but my point was in all this: I get an email from ASB saying as "a valued client" blah blah.......so I respond expressing an interest in 20k shares, to which they respond: here's the application form, first in first served, but there may be scaling.
that doesn't make any sense to me......
If I was really keen on it, maybe I'd persevere, but I was only ever luke warm; its fully priced at the top of the expected range; and the peoples' whose judgement I respect reckon its a pass at 2.70.
Time will tell, I would think there's a bit of a stag in it but just not for me to be bothered chasing thanks
The scaling clause will be to cover the butts in the event that they get to many applications on a given day.
Hey guys,
Any new thinking on this before the cutoff time. My thinking is that there are far better medium/long term investments out there - even on the nzx - but I'm pretty certain that they will perform well over the first few months at least, mostly due to the oversubscriptions and the media interest that will occur.
Any thoughts?
Another topic: A colleague of mine reckons he heard that ird will try to hit those that sell shares in the first few days of listing with a capital gains tax. Anyone think this is practical, or even legally correct?
Cheers
I bet the IRD wont be following up if the price drops.