Day Time Naps

Some people get bad advice, have poor timing or could be getting more desperate.

There have been a large number of canceled or failed (went lower) IPOS this past 50 days. About half of all initial public offerings are from private equity guys trying to stuff the public with deals they leveraged with junk debt and took large amounts of cash out of in the past year or two.

This will be looked at very poorly in the years ahead...the debt now all "hedged" will be hard to manage in a slowing economy.....If the public markets don't bail them out...their private portfolios are simply too large to manage themselves...they are not that deep or smart...no one is.....

August..by definition should never be month you raise money in.....everyone is gone and or focused on something else...the "calendar" always starts in September....

So a large number of companies are either desperate, getting bad advice or a combination of both and thus look weak with poor timing...

Barkly seen here is taking a well deserved "dog nap" in the office ......during these hot humid summer days....