Three Ip Os That'll Let You In On The Ground Floor

It's hard to find a bright spot in this year's stock market. But Thomas A. Frank, lead manager of the $360 million Dreyfus New Leaders Fund, has a surprising one: initial public offerings. The market slide has let the air out of IPOs. The size of deals has been scaled back--and so have the prices. "We're seeing good companies coming out 30% lower than what was first indicated," says Frank.

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