Warren Buffett is well known for his belief that you should avoid IPOs, a theory that Monish Pabrai also holds. In a recent interview with ET Now, Pabrai gives us some more insight into why he holds this view and why he believes, all investors should avoid IPOs if they want to do well over the long-term.
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More On Why You Should Avoid IPOs
"There is a very simple rule of investing I follow, which is, never ever invest in any IPOs. So first off all an IPO is a company selling shares into the market. The company controls the timing, the company controls the story…. These are auction-driven...
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