According to a recent article by the Associated Press, 2020 is shaping up to be one of the best IPO markets in over two decades. While traditional initial public offerings continue to be the primary avenue companies use to raise money and have their shares listed on a major exchange such as the New York Stock Exchange or Nasdaq, the process is not without drawbacks. Other alternatives to bring companies to market have been tested over the years, such as Dutch auctions (Google, 2004), Direct Public Offerings and Special Purpose Acquisition Companies, or SPACs.

One question I often hear is: With the market being so unpredictable, how can we properly plan for the long-term? A global pandemic, upcoming elections, trade tariffs, record unemployment, GDP in freefall, there is no shortage of reasons why the market could be declining this year. Yet, the stock market is not falling, it continues to push higher, led by the information technology and consumer discretionary sectors. Over the last year, out of the 11 sectors of the economy, only consumer staples and energy lagged the S&P 500.