Level-headed enthusiasm

Bankers and buysiders are ready to declare the first real IPO window since 2000, supported by a good supply of both high-quality companies and investable cash. Both say the market should continue to thrive as long as quality companies remain on offer and valuations are fair.

So far, the signs are encouraging. Biotech has out-performed the larger indexes over the past 30 months, finally attracting generalists to the space...