Hedge fund manager Philippe Laffont sounded a stark warning about the state of the U.S. IPO market, arguing that the ecosystem for taking companies public has deteriorated significantly. Coatue Management's founder and portfolio manager said the market today bears little resemblance to the vibrant IPO pipeline of prior decades. "The IPO market is completely broken ... beyond repair," Laffont said Thursday at the CNBC Delivering Alpha conference. "Twenty or 30 years ago, there were so many more