Don't blame the markets – blame the IPO price tags

For debt collectors Cabot Credit Management its near-£1bn IPO valuation was money deemed not worth chasingThe stock market, we are invited to believe, has been in a state of utter turmoil for the past few weeks. Fund managers have been hiding in bunkers, apparently, afraid to consider new investments. It’s rubbish, of course, but that doesn’t prevent every company that pulls its flotation, or IPO, from blaming the market.The latest is debt-collector Cabot Credit Management, a f