http://seekingalpha.com/article/258037-glencore-ipo-of-the-decade-or-another-blackstone
Extract below
And that statement is exactly what is at odds with Glencore’s IPO. A company that has operated in the shadows for 40 years, is now disposed to the inevitable disclosures that are associated with going public, while being extremely obvious that the partners don’t give something up for nothing.
Timing is what jumps off the Glencore IPO headline, and with commodity markets still feeding the “we’re all going to run out of everything” frenzy, the season to sell stock in potentially the most coveted company in the world, with a firm grasp of something that the public views as the new normal, is only natural. And like Blackstone, Glencore is most likely signaling the turn, not the green light to continue forward as far as commodities are concerned. And as a side effect, the BRIC story, which has been largely riding the commodity gravy train, will become just another brick in a very large wall.
Not that every IPO sends a strong message, and that all players are shrewd or clever, but when did Goldman Sachs (GS) go public? Smack at the cusp of the dot.com bubble: May 1999. Thus the question is “Why is Glencore going public, when for the past 40 years the company operated happily without sharing its secrets and success with investors?”
The fact that Qatar is “the cornerstone” of the IPO should not bring comfort, because China pumped $3 billion into Blackstone as reported by The New York Times.
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SS says
This is in line with the IPO indicator that I have spoken about.
Glencore is cashing out and this is is indicating that the commodity bubble is very close it bursting.
In my view - the Glencore guys are smart - just like the Blackstone guys - just like Goldman - just like Visa Card -
They all IPOed just about near the peak of the markets in 1999 - 2000 - 2007 and 2011.
Extract below
And that statement is exactly what is at odds with Glencore’s IPO. A company that has operated in the shadows for 40 years, is now disposed to the inevitable disclosures that are associated with going public, while being extremely obvious that the partners don’t give something up for nothing.
Timing is what jumps off the Glencore IPO headline, and with commodity markets still feeding the “we’re all going to run out of everything” frenzy, the season to sell stock in potentially the most coveted company in the world, with a firm grasp of something that the public views as the new normal, is only natural. And like Blackstone, Glencore is most likely signaling the turn, not the green light to continue forward as far as commodities are concerned. And as a side effect, the BRIC story, which has been largely riding the commodity gravy train, will become just another brick in a very large wall.
Not that every IPO sends a strong message, and that all players are shrewd or clever, but when did Goldman Sachs (GS) go public? Smack at the cusp of the dot.com bubble: May 1999. Thus the question is “Why is Glencore going public, when for the past 40 years the company operated happily without sharing its secrets and success with investors?”
The fact that Qatar is “the cornerstone” of the IPO should not bring comfort, because China pumped $3 billion into Blackstone as reported by The New York Times.
-------
SS says
This is in line with the IPO indicator that I have spoken about.
Glencore is cashing out and this is is indicating that the commodity bubble is very close it bursting.
In my view - the Glencore guys are smart - just like the Blackstone guys - just like Goldman - just like Visa Card -
They all IPOed just about near the peak of the markets in 1999 - 2000 - 2007 and 2011.
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