Deutsche, Goldman Sachs and Macquarie Capital will this week start work on the $4billion IPO of Medibank. The float is tipped to be the largest in close to a decade and will no doubt dominate headlines throughout the course of the year. Just last week investors were given a reminder of the sunny side of IPO's with the listing of Beacon Lighting & Japara both delivering substantial stag profits. Results such as these no doubt will spike investor interest in new listings, however, Elio D'Amato, CEO of Lincoln Indicators, says that IPO's come with substantial risk and limited financial scrutiny. He says there are many examples of investors being burnt at IPO and he is willing to miss out on potential early profits in exchange for a proven track record and the financial reporting transparency that comes through a listing on the exchange. &