Value strategy
IPO / New-Issue Strategy
A rules-based way to join — or deliberately fade — new listings, built on two anomalies: IPOs tend to be underpriced for a listing pop, yet as a group they underperform over the following few years.
Days (listing-gain flip) to 3–5 years (selective long-term hold)Beginner–Intermediate
Primary-market practice; the underlying anomalies documented by Jay R. Ritter and the academic IPO-underpricing literature