IPO

Share price nearly doubled

Use of private secondary markets 'vital'

Cracks beginning to show 'on several fronts'

Level of noise surrounding IPOs 'deafening'

Moving back to US

Global public offerings fall to three-year low in first nine months of 2019

Margins of safety can be thin at worst of times

In their inaugural piece of research on investment platforms, analysts at Liberum have identified Quilter and Hargreaves Lansdown as the best buy opportunities, while AJ Bell received a sell rating from the team.

Late stage of the IPO cycle

2019 likely to break the record for IPOs set in 1999