$Z (zillow is going public) – hug a developer
$LNKD was priced wrong at the IPO – punch a banker than hug a few developers
$BAC lost $8.8 billion – punch any banker…twice
I have had this ‘Punch a Banker, Hug a Developer’ slide in my deck for a year or so. It’s always good for a laugh, but it’s more than a headline. Our schools are filled with Lawyers and future bankers and the financial sector still takes up 30 plus percent of the S&P.
Certain developers are now being treated as rockstars so while it looks like a time to punch a few of theses developers, you will be wasting your time as the market is rewarding developers, not bankers. You would be wise to do the same.