As the rush of initial public offerings tries to cash in on sky high valuations before the appropriate market environment changes to a more rational one, comes an IPO that Rafferty Capital Markets bank analyst Dick Bove thinks investors should avoid. LendingClub Corporation is a forthcoming IPO backed by the Wall Street elite. LendingClub IPO underwriters Underwriters are Morgan Stanley (NYSE:MS), Goldman Sachs Group Inc (NYSE:GS) and Citigroup Inc (NYSE:C) – the bailout banks, the banks with connections. Those connections are also visible on the LendingClub’s board of directors which includes none other than Larry Summers, the attempted U.S. Federal Reserve…
LendingClub IPO Warning Issued By Dick Bove
Mark Melin
Mark Melin is an alternative investment practitioner whose specialty is recognizing the impact of beta market environment on a technical trading strategy. A portfolio and industry consultant, wrote or edited three books including High Performance Managed Futures (Wiley 2010) and The Chicago Board of Trade’s Handbook of Futures and Options (McGraw-Hill 2008) and taught a course at Northwestern University's executive education program.
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