Imran Khan

And then you go to the roadshow and then based on the demand, either you hopefully raise the price range because of the price range going down, that's a bad thing. So you start with the price that you have a 98% conviction that you can price it at that range. And then you go off from there. And that depends on the demand and the feedback you get from the investors.

And then you go to the roadshow and then based on the demand, either you hopefully raise the price range because of the price range going down, that's a bad thing. So you start with the price that you have a 98% conviction that you can price it at that range. And then you go off from there. And that depends on the demand and the feedback you get from the investors.

And then you go to the roadshow and then based on the demand, either you hopefully raise the price range because of the price range going down, that's a bad thing. So you start with the price that you have a 98% conviction that you can price it at that range. And then you go off from there. And that depends on the demand and the feedback you get from the investors.

And basically you ask them what is their price target on that company is. Sometimes they share a price target that's way too high. Sometimes they share a price target that's way too low, depending on who has the power. But that's how you come up with a price target based on the demand you see in the market.

And basically you ask them what is their price target on that company is. Sometimes they share a price target that's way too high. Sometimes they share a price target that's way too low, depending on who has the power. But that's how you come up with a price target based on the demand you see in the market.

And basically you ask them what is their price target on that company is. Sometimes they share a price target that's way too high. Sometimes they share a price target that's way too low, depending on who has the power. But that's how you come up with a price target based on the demand you see in the market.

If the book is 10 times covered by high quality investors, 10 times covered, let's say you're selling 100 shares, there's a thousand shares demand, high quality investors, you know that you can potentially raise the price. But you have to look at what is the price target of this company could be at least near to midterm and at what price people will continue to buy. So if you...

If the book is 10 times covered by high quality investors, 10 times covered, let's say you're selling 100 shares, there's a thousand shares demand, high quality investors, you know that you can potentially raise the price. But you have to look at what is the price target of this company could be at least near to midterm and at what price people will continue to buy. So if you...

If the book is 10 times covered by high quality investors, 10 times covered, let's say you're selling 100 shares, there's a thousand shares demand, high quality investors, you know that you can potentially raise the price. But you have to look at what is the price target of this company could be at least near to midterm and at what price people will continue to buy. So if you...

set the price at a too high, nobody going to buy the stock. And then all these people who bought the stock, they want to sell the stock.

set the price at a too high, nobody going to buy the stock. And then all these people who bought the stock, they want to sell the stock.

set the price at a too high, nobody going to buy the stock. And then all these people who bought the stock, they want to sell the stock.

Yes, because the thing is that the concentration comes from, if you give Fidelity a million dollar allocation, they will dump the stock. They might disagree with that, but a million dollar, ultimately, if you have to think about it, if you're a portfolio manager, you're owning 30 names, 40 names, 50 names, 60 names, whatever the number is, right? And you are managing a lot of money.

Yes, because the thing is that the concentration comes from, if you give Fidelity a million dollar allocation, they will dump the stock. They might disagree with that, but a million dollar, ultimately, if you have to think about it, if you're a portfolio manager, you're owning 30 names, 40 names, 50 names, 60 names, whatever the number is, right? And you are managing a lot of money.

Yes, because the thing is that the concentration comes from, if you give Fidelity a million dollar allocation, they will dump the stock. They might disagree with that, but a million dollar, ultimately, if you have to think about it, if you're a portfolio manager, you're owning 30 names, 40 names, 50 names, 60 names, whatever the number is, right? And you are managing a lot of money.

So if you give them a small, very, very small allocation, it doesn't move the needle. So then either they have to buy more so that it moves the needle or you have to sell it out because there's so many names you can track and so many names. You don't want to own a bunch of names that then you're buying, running an index fund, right?

So if you give them a small, very, very small allocation, it doesn't move the needle. So then either they have to buy more so that it moves the needle or you have to sell it out because there's so many names you can track and so many names. You don't want to own a bunch of names that then you're buying, running an index fund, right?

So if you give them a small, very, very small allocation, it doesn't move the needle. So then either they have to buy more so that it moves the needle or you have to sell it out because there's so many names you can track and so many names. You don't want to own a bunch of names that then you're buying, running an index fund, right?

But if you're really an active portfolio managers and you're trying to generate return, you have to

But if you're really an active portfolio managers and you're trying to generate return, you have to