DULUTH, Minnesota, Oct 16 (Thomson Reuters Foundation) -
B efore the advent of air conditioning, this northern U.S. city
on the shore of Lake Superior promoted itself as a cool summer
haven for the sweaty and allergy affected.
A deep disconnect between
private market valuations of companies and the prices their
shares fetch on the open market is pushing more mutual fund
managers to the sidelines during high profile IPOs, anticipating
the newly listed stocks will inevitably fall.