Can someone please explain to me why J.P. Morgan and Morgan Stanley are low ballin the underwitting of GM's IPO? Why are they doing it at a quarter of the price they should really be doing it for? I have a feeling that cutting down fees to half or a quarter of the price will become a new trend and in the end the whole industry will be screwed.
Bidding wars in IBD... Is it me or investment banking is completely losing it's luster?
Pardon my ignorance, but what is underwitting? You used this term twice in your post.
Government contracts go to the lowest bidder.
That's actually not always true. Incumbency and quality go a long way when bidding for government contracts.
Actually 3% is considered high in some markets (including the MENA region, where company risk is far higher than in the States/UK), let alone the 5 to 7% that's commonly charged in the developed markets. It's not exactly slumming.
Maybe its because they're doing it for the GOVERNMENT...read this article that was posted the other day on the WSJ. http://online.wsj.com/article/SB100014240527487035094045753004303515637…
[quote=wanabeinfinance]Maybe its because they're doing it for the GOVERNMENT...read this article that was posted the other day on the WSJ. http://online.wsj.com/article/SB100014240527487035094045753004303515637…]
thanks!
I thought this was "underwriting for penis." I was getting a bit excited...
i underwrite for pussy
Also they want the volumes.
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