IPO Stands for 'It's Probably Overpriced'

In the past few days, thanks to the initial public offering of Facebook, investors have learned what the letters IPO really stand for: “It’s probably overpriced.”

Truthfully, the initial public offering process is built and managed to give a predictable pop on opening day, which results in an equally predictable fallback later, which is why chasing after any initial public offering is the Stupid Investment of the Week.