Larry and Sergey really have to learn how to dial down the hard sell. The following is from one investor’s account of attending the ongoing Google IPO roadshow:
“They’ve violated all 10 Commandments of doing an IPO,” said Tom Wyman, a portfolio manager for Husic Capital Management … “They didn’t have any slides on their growth strategy, investment highlights on why we should buy the stock or an industry overview. When they were asked to compare themselves against Yahoo, all they said is, ‘Our product is better than theirs. Next question?'” Wyman said.
Earlier today I was mulling the right entry in a pool here vis-a-vis the Google first-day closing price percentage change. The more I read about the institutional reception the more I think my first inclination — up low-teens — will be wrong.