Alex Berenson Share Quotations

In general, great companies prefer to grow organically, as Wall Street likes to say. That is, from the inside out, by finding new markets or by taking market share from their competitors.

For decades, Wall Street has charged companies a standard fee of 7 percent to sell their shares to the public.

As the Nasdaq soared in 1999 and early 2000, demand for many offerings far exceeded the supply of shares available at the initial offering price.

Good spectator sports share certain fundamentals. Their competitors battle head-to-head. Their winners are determined objectively: fastest runner, most points. They are refereed, not judged.

Corporate executives often buy or sell shares in their companies, and stocks rarely rise or fall significantly when those transactions are reported.

In general, great companies prefer to grow 'organically,' as Wall Street likes to say. That is, from the inside out, by finding new markets or by taking market share from their competitors.

The lower spreads mean lower costs for investors, because Nasdaq investors generally do not trade directly with one another. Instead, they usually buy and sell from market-makers, brokerage firms that flip shares between buyers and sellers and keep the spread for themselves.

Bigger spreads mean bigger gaps between what buyers pay and sellers receive. For example, a spread of 10 cents a share means that the buyer pays $100 more for 1,000 shares than the seller receives.

For value investors, General Motors is a tempting target. The company's share of the North American auto market has steadily declined for two decades, and analysts say the company suffers from weak management and unexciting cars.