@QW, I am thinking some of those IPOs may not see the light of day this year, unless it is a listing by introduction e.g. TransCentury. On the other hand, some may actually find some well heeled underwriters who can provide the required confidence. Underwriters would no doubt demand a significant discount.

As for the the contrarian opinion, we should remember that Coop came into the market in the midst of a bear market and in 20 months, even guys who bought at the IPO price had more than doubled their money. Of course there are those who "bottom fished" at 6/= or thereabouts and actually tripled their money. Either way, if you can last long enough through the "bear", there's money to be made.

@ Mwana

I'm with you on Jubilee, this baby should lose some more weight and i'm waiting to see if the bear will maul it to below Ksh 140. Below that it tooo irresistable to ignore or wait to bottom-out.

As for the market losing 1,000 pts between now and end of next year is a high likelihood and not an impossibility. Like i said earlier, the mkt has lost 800 pts in 3 months, whats 1,000 pts in 2 years ?

Let me in on the counters you think will have troughs and spikes along the way, i wouldnt mind speculating.