Snap Inc. (NYSE: SNAP) went public today and millions of investors are buying shares of what could be one of the biggest technology-related IPOs of the past several years with a valuation that could hit $30 or even $40 billion.

Only problem is, companies like Snap are called “unicorns” for a reason – they’re fantasy.

Which is why I’ve got a far better and potentially more profitable alternative for you today.

You’ll never hear Wall Street analysts pitch this backdoor entry.

What Snap Hopes You Miss in Its S-1 Registration Statement

Most investors are familiar with the term “unicorn,” and not because they read children’s books.

Unicorns are what Wall Street calls private startup companies valued at $1 billion or more. Once the stuff of myth and legend, today “unicorns” like Uber, Xiaomi, Airbnb, and, of course, Snap seem to fall off trees.

You’d think unicorns are a license to print money based on how Wall Street pitches them to the investing public in highly choreographed “road shows,” but sadly that’s not the case.

Like their mythical counterpart, unicorns are complete fantasy masquerading under the guise of a legitimate investment opportunity. When you look deeper, they are little more than an illusion intended to make a small group of founder, early investors and investment bankers wealthy. And, a bad one at that.

Take Snap’s S-1 Registration Statement, for example.

An S-1 is a filing required by SEC for any company that wants to go public. It’s the investing public’s first opportunity to review a unicorn’s financials and other critically important data that insiders have known for years.

I call S-1s “anti-marketing marketing documents” because they highlight all the reasons why you don’t want to invest. Especially when it comes to a company like Snap Inc.

Naturally, Wall Street’s investment bankers – who stand to make hundreds of millions on the deal – hope you’ll never pick one up.