What are we to make of the long term decline the share of companies listed in the US? For one it may be a reason why hedge fund herding is a potential issue. Second it reflects the changing nature of the global economy. Third it reflects in part the unwinding of the Internet bubble but also may have a regulatory component as well. Should any really be all that shocked that more companies are coming to market overseas? There does seem to be some hope for a revival in technology-related companies in the US as LinkedIn and Yandex both came to market. For now however the exchange stocks continue to reflect a relatively muted future. In today’s screencast a look the impact of a decline in US equity listings.
Items mentioned in the above screencast:
A look at the absolute (and relative) decline in US equity listings. (WSJ)
Niederauer still blames SarBox for the dcline in listings. (Deal Journal)
Hong Kong is beginning to choke on all its listings. (Breakingviews)
The US remains a center for technology IPOs. (Curious Capitalist)
Relative price chart of exchange stocks. (StockCharts)