Campbell Harvey and Rob Arnott propose a new investment framework that excludes expensive, low-growth stocks from any portfolio.

Historically, the stock performance of large firms over the three years following their IPO is essentially flat compared to the broader market.

The SpaceX IPO is larger in size than the sum of all IPOs that occurred in 2025.

There is a possibility that SpaceX will be merged with Tesla in the future.

Ahead of its public trading, SpaceX shares were trading at $177 in the derivatives market, compared to an allocation price of $135.

By the time a company conducts an IPO, its stock is often fully priced, with most of the explosive growth having already occurred while it was private.