We can't ignore the impact of
http://en.wikipedia.org/wiki/Crony_capitalism
http://en.wikipedia.org/wiki/Social_mobility
http://en.wikipedia.org/wiki/Economic_mobility
I invest in Indian markets and 80% of my investments are via IPO. Today I bidded for IL&FS & Pradip in
http://www.nseindia.com/content/ipo/ipo_current.htm