Imagine it is 1987.  Tiffany & Company is raising money by issuing shares to the public at $23.00 each.  You have some savings and are thinking about starting a business. Instead of running your own enterprise, you decide to focus on your day job and become a co-owner of one of the most famous businesses of all time.  You buy 5,000 shares of the jeweler on the first day of trading.  Ignoring the relatively small brokerage commission, you would have needed to write a check for $115,000. … [Read more...]