Well it was a stellar year again for the markets. The S&P 500, Dow 30 and Nasdaq have set new record highs and all are currently trading near those highs. The average IPO returns have been stellar as well. On average the IPO markets have performance returns that considerably beat the S&P 500 benchmark. The one blemish on the IPO markets that analysts continue to focus in is the total proceeds produced from the 2016 offerings. According to top wall street IPO analysts, the total amount raised was at the lowest level since 2003. The overall activity in the IPO markets also saw a decline to levels not seen since 2009.

Remember the first part of the year though which saw markets take a nosedive. Our comments at that point were about how there were many IPO postponements. It was a very quiet first quarter and the rest of the year just couldn't make up for it. Other analysts blame the Brexit debacle which happened in the second quarter, and of course the unknown from the Presidential election cycle.

The laggards continue to be in the technology sector which are usually the backbone of the IPO markets. Their continues to be a huge disconnect between what companies think they are worth and the multiples that the public will pay. While its not at extremes that were seen back in early 2000's, the gap is widening as investors hold back from steep valuations.

Just as we all look forward to the new year with lofty goals and resolutions, IPO analysts are also mostly optimistic that 2017 and 2018 will see significant pickup in activity.