So, how did 2016 go for new floats? More than ever, that depends who you talk to, even though the real answer is “pretty well”. A recent article in Fairfax’s Business Day bore the cautionary headline “How not to float your boat: why you might give IPOs a wide berth.’’ That’s hardly a ringing endorsement, even if it stops short of saying “should”. But the article chose to focus on nine of the market’s worst floats of the previous three years...