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> The only time you're actually investing in the company is when they IPO.

Well, no, anytime the company is selling shares you can invest in the company rather than the secondary market. The IPO is obviously the first such event, but it isn't necessarily the only such event.



Also, if there was no secondary market, people would be much less likely to buy at IPO and other times the company sells shares.


Right, but I did mention that.


Fair point, and true.




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