As I thought Tuesday, both MaxLinear (MXL) and Calix Networks (CALX) would be bid up to nonsense valuations.  [Mar 23, 2010: Two IPOs of Interest this Week]  A very nice gift indeed for the institutions who were gifted these shares.

MXL was priced at $14, it trades just over $19 as I type for a 35% gain.

CALX was priced at $13, it trades around $16.20 as I type for a 20% gain

So a blended average of 27.5% for a few hours work, and that folks is how you can help turbocharge your performance if you are an institution with access to the right people to get the right IPOs into your portfolio.

As for performance from here?  Heck these things could double or triple now that they have little to no association with any value.  If not 70 PE ratio, why not 170?  or 350. 

Being conservative I'd be happy to dump my shares to the retail lemmings right here, and then write in my quarterly shareholder letter to mutual fund investors about what an excellent investment it was... all 2 hours of it.

No positions