You'd have to be sitting atop the lost Mars lander to be unaware of today's IPO madness. The market basket approach sounds like a risk averse approach to Internet investing. In addition, they are paying 10 times ICGE's original offering price. Importantly, the enthusiasm for ICGE has nothing to do with what its companies will produce. Rather, bulls are betting that ICGE's companies will be sold in the IPO market, at some price, some day in the future.
Risk is high, as are hopes.
ICGE's market cap is now larger than that of Merrill Lynch. Okay, so today's IPO player knows that buying an IPO means paying a lot for not very much. This is known as the highest risk area of the equities market. Today's IPO market is fraught with infinitely more risk. But those who play in this riskiest of markets have been getting fabulously rich.