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1927.686 - 1951.171 Harry Stebbings

I remember when Instacart IPO'd, people said actually the distribution of the buy book showed that it wasn't an in-demand IPO. There wasn't a concentration of one or two great names with larger concentrated positions. And that distribution across several names suggested that it wasn't a hot or in-demand IPO. Is that a true characteristic? Is concentration a characteristic of quality?