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Hmm, J.P. Morgan rated them for the opening, and heard folks lost $30 BILLION, in addition to the meager $2 BILLION J.P. just lost, can’t beat that deregulation and J.P. Morgan!
An old college professor of mine explained the Great Depression by saying that people got roped into the “Greater Fool Theory”. Basically it said whatever price you pay there will be a greater fool tomorrow who will pay even more. (Kind of an early edition of the Ponzi.)
I could be wrong, but I don’t see facebook going away anytime soon. It’s not a fad, it’s already woven into the fabric of life for millions of people, most of them younger than me (although my 82 year-old mother is also a fan; she’s pretty much housebound, so it’s her main conduit to the outside world; and unlike television, it’s participatory). If facebook AS A COMPANY disappears (and again, I don’t see that happening anytime soon), it’ll probably be because some better version of it (maybe bigger and more comprehensive, maybe smaller and more focused) takes its place.
Owning STOCK in facebook, on the other hand, may qualify as a fad. It’s already a huge and profitable company; the chance of making a killing by getting in “on the ground floor” has long since past. But after the initial hoo-hah of the IPO, I expect that the stock price will find its level and pay out modest dividends for a long time to come.
The biggest problem for facebook, long term, is that it will cease to be the flavor of the month. The history of the internet is one of constant change Commador 64, Netscape, Metacafe, My Space, all were the hot item yesterday, and all were replaced by somethng else. Facebook may find it is “so last year” before the end of the year.
“Facebook may find it is “so last year” before the end of the year.”
That’s a possibility, of course, but it seems to me that facebook is now the 800-lb gorilla. If something appears on the horizon that could threaten it, Zuckerberg could follow the Microsoft model and either buy the company or “appropriate” their idea, and incorporate it into facebook. Lord knows he’s got the money, and he’s already shown the mindset.
Remember music videos? That was a fad. But MTv is still around…
Part of the problem with the FB pricing is also the fact that you see ad vendors pulling up stakes because they aren’t seeing revenue being generated by their ads. That, and the fact that the CFO said they should release more stock right before they opened the IPO diluted the share value of each stock.
On the reverse end, to those who complained of deregulation, there are quite a few governmental agencies that are poking around the IPO because it had such a lackluster launch.
Glenn McCoy has been long recognized by his peers as a superior cartoonist. Besides his editorial cartoons, he also creates the daily comic strips The Duplex and The Flying McCoys.
Gary Markstein by Gary Markstein
Jim Morin by Jim Morin
Comments (20) (Please sign in to comment)
walruscarver2000 said, about 1 year ago
Overhiped? On Wall Street? Stop the presses!
Radish
said, about 1 year ago
He’s laughing all the way to the bank with his billions.
ruff
said, about 1 year ago
Where is the substance? It is all speculation on paper. Why would anyone pay money for it in the first place?
dtroutma
said, about 1 year ago
Hmm, J.P. Morgan rated them for the opening, and heard folks lost $30 BILLION, in addition to the meager $2 BILLION J.P. just lost, can’t beat that deregulation and J.P. Morgan!
INGSOC
said, about 1 year ago
Uh oh, passing fads certainly pass on, to become forgotton….
Ms. Ima said, about 1 year ago
BIG money grab by the government. I don’t see the usual losers jumping up and down and applauding all the tax revenue coming THEIR WAY.
walruscarver2000 said, about 1 year ago
An old college professor of mine explained the Great Depression by saying that people got roped into the “Greater Fool Theory”. Basically it said whatever price you pay there will be a greater fool tomorrow who will pay even more. (Kind of an early edition of the Ponzi.)
mattWVL said, about 1 year ago
Like no one saw that coming..
fritzoid
said, about 1 year ago
I could be wrong, but I don’t see facebook going away anytime soon. It’s not a fad, it’s already woven into the fabric of life for millions of people, most of them younger than me (although my 82 year-old mother is also a fan; she’s pretty much housebound, so it’s her main conduit to the outside world; and unlike television, it’s participatory). If facebook AS A COMPANY disappears (and again, I don’t see that happening anytime soon), it’ll probably be because some better version of it (maybe bigger and more comprehensive, maybe smaller and more focused) takes its place.
Owning STOCK in facebook, on the other hand, may qualify as a fad. It’s already a huge and profitable company; the chance of making a killing by getting in “on the ground floor” has long since past. But after the initial hoo-hah of the IPO, I expect that the stock price will find its level and pay out modest dividends for a long time to come.
mikefive said, about 1 year ago
Media hyped Facebook, but many, many financial advisers were advising against Facebook at the IPO price.
walruscarver2000 said, about 1 year ago
The biggest problem for facebook, long term, is that it will cease to be the flavor of the month. The history of the internet is one of constant change Commador 64, Netscape, Metacafe, My Space, all were the hot item yesterday, and all were replaced by somethng else. Facebook may find it is “so last year” before the end of the year.
ruff
said, about 1 year ago
@
What else is new about that poster ??
fritzoid
said, about 1 year ago
@walruscarver2000
“Facebook may find it is “so last year” before the end of the year.”
That’s a possibility, of course, but it seems to me that facebook is now the 800-lb gorilla. If something appears on the horizon that could threaten it, Zuckerberg could follow the Microsoft model and either buy the company or “appropriate” their idea, and incorporate it into facebook. Lord knows he’s got the money, and he’s already shown the mindset.
Remember music videos? That was a fad. But MTv is still around…
Wraithkin said, about 1 year ago
Part of the problem with the FB pricing is also the fact that you see ad vendors pulling up stakes because they aren’t seeing revenue being generated by their ads. That, and the fact that the CFO said they should release more stock right before they opened the IPO diluted the share value of each stock.
On the reverse end, to those who complained of deregulation, there are quite a few governmental agencies that are poking around the IPO because it had such a lackluster launch.
pirate227 said, about 1 year ago
When it dips below $20, buy.