Ico investments can be a bit risky compared to the altcoin investment. If you are looking for not valued coins. You can choose from icos recently finished and on exchange. Their price can be lower than ico price. They have much more potential.
Yes this. Although you can still invest in an ICO before they launch if you see that they have a solid plan to keep the hype going after they launch (like having their platform ready after the ICO ends... if you believe that their token has real use in the real world and the company has a good road map, strong partners, good credentials, etc.