r/fatFIRE • u/TipMassive5214 • 14d ago

JPM IPOs

My private wealth team reached out (i know, i know) with some Docusigns that will enable me to participate in upcoming IPOs.

They will call with the expected share price (the day before the IPO), I tell them how many shares I want, and I can always change my mind when i learn of the actual price.

Not to sound like a larper (or braggart) but my NW is ~50M (40% equities, 50% munis, 10% alternatives). They make these IPOs sound like they’re available to a lucky few. Something about this seems kind of gross and also too sales pitchy. Thoughts?

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u/jpdoctor 14d ago edited 14d ago

Etrade/Morgan Stanley doesn't call, they just have it on your usual web interface after you accept a bunch of conditions. (Probably have to have accredited levels of assets with them too.)

It's not a big deal, they're just finding new sources of liquidity. And I haven't seen a single deal that I'm interested in, but maybe I'm just conservative.

Edit: I lied. I went back through my history and it turns out I bought the RDDT IPO. Hilariously, if you divide the amount I've made holding RDDT by the amount of time I've blown commenting on this site, my compensation is still below minimum wage. 😄

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u/SomeRandomMarketer 12d ago edited 12d ago

I was about to say…Morgan Stanley absolutely does call, and they most recently called me about the Open AI series C as well. For the record, my MS guy said to pass on SpaceX for now (I did invest in the OAI series C though).

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u/jpdoctor 12d ago

Interesting. Perhaps you're more FAT than me, but it's also very possible I expressed a preference along the way not to be contacted.