Stay on top of the latest investment trends and developments with our views and research.
Institutional Investing / Macro Insights
SpaceX IPO and Rising Equity Supply
Rising aggregate equity supply and euphoria are emerging as a risk in markets, approaching levels of oversupply with the upcoming mega-IPOs. Mega-IPOs introduce benchmark risk as new issues are fast-tracked into major indexes, requiring a top-down evaluation to determine action in portfolios. We are unlikely to participate in the upcoming Tech mega-IPOs as initial offerings have increasingly become liquidity events for existing investors.
