Looking for McGrath IPO investors, page-9

I read an interesting article about the housing market recently. It said one way you can look at the health of the industry is buy looking at the IPO's being offered. The share market is all about taking risk and it (typically) looks about at 6 months into the future (i.e. where the company will be in 6 months).

So, if you owned a company that is doing really then your best bet is to keep it because the risk is low and you get the profits. If / when the risk increases then you go public it then means others share in the risk and you make money bu selling part of the company.

If you believe this logic then one can possibly make some inferences about what 'investors' and owners think the industry is going to do...