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Fellow Fools,

I had to post this message to let others know about the scams IPO investment firms play on individual investors.

I had a recent experience with Wit Capital regarding the Caldera IPO. Like you, I too was excited at the possibility and felt that RHAT and Caldera would eventually share a space in the growing Linux market.

So I decided to open an account at one particular firm Wit Capital, place equity into the account and setup their alert system to be notified of IPO's way in advance.

As paranoid as I am I had verified all the alert setting, had 2 accounts to mail to, and had their technician pull up the account to verify all alert/etc settings, and never gave out my password. One of my accounts is to a home ISP the other is at a major US comp corp. I even took a screen shot of my settings minus password.

Guess what happened. Caldera offer got announced, never got notification. Found out by going to the site a week later.. checked my account settings the notification was 'mysteriously turned off'.

You could say I screwed up..must of done something silly right? that is until I looked at my screenshot and saw what really happened.

I suspect large firms like Wit Capital and others who make these offers give out to a select few investors and the rest of us are stuck. Look at E-Trade and the now notorious scam they played to investors about the RHAT IPO notification.

My warning is that its not about getting the IPO, its about being notified to try to get it. If you got your shares congratulations.

The rest of you who drool don't be so optimistic that it will be different with Caldera IPO...

Long RHAT. maybe get Caldera too..
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