Facebook IPO - the biggest theft in history?

[longbow]

Banker friend of mine, who knows his stuff, can't stop laughing at the fubar Facebook IPO.

He thinks criminal charges will flow from the screw up with the IPO. All the data shows the stock was driven up by at least 25% by some improper reporting of earnings and forcasts.

He says the stock is really worth $14 or so.

 

[minx]

In this case, there worth as much as the fool is willing to pay for them. Nothing to do with earning.

 

[Lex Concord]

Nope. Orders of magnitude smaller than TARP and many of the other gov't bailouts over the decades.

 

[Waynetucky10]

The motley fool taught me long ago to beware the initial public offering.

 

[John Galt]

Theft! What theft?! The stock market is ONE BIG RIGGED CASINO and anyone that believes the trash coming out of Wall Street deserves what they get. We are living in such a surreal, openly corrupt period of history that it's mind-boggling! The plundering of the middle class and their children via bailouts/printing/inflation is the greatest theft in history!
Pray for Karma. Hard Karma!

 

[sloughfoot]

That sound you hear is what a house of cards sounds like when it falls.

FB produces exactly nothing.

FB is nothing more than a fancy data base.

FB is an empty shell. It is nothing. How can it even be worth $14? or 14cents?

 

[UncleMike]

Banker friend of mine, who knows his stuff, can't stop laughing at the fubar Facebook IPO.

He thinks criminal charges will flow from the screw up with the IPO. All the data shows the stock was driven up by at least 25% by some improper reporting of earnings and forcasts.

He says the stock is really worth $14 or so.

Yup...
The comparisons, by some of the Facebook promoters to the fortunes made by early MicroSoft investors, is what convinced me that it was an over hyped potential money pit for gullible people.

 

[IndyDave1776]

Theft! What theft?! The stock market is ONE BIG RIGGED CASINO and anyone that believes the trash coming out of Wall Street deserves what they get. We are living in such a surreal, openly corrupt period of history that it's mind-boggling! The plundering of the middle class and their children via bailouts/printing/inflation is the greatest theft in history!
Pray for Karma. Hard Karma!

"You must spread some rep around before giving it to John Galt again"

I tried!

 

[Prometheus]

Theft! What theft?! The stock market is ONE BIG RIGGED CASINO and anyone that believes the trash coming out of Wall Street deserves what they get. We are living in such a surreal, openly corrupt period of history that it's mind-boggling! The plundering of the middle class and their children via bailouts/printing/inflation is the greatest theft in history!
Pray for Karma. Hard Karma!

Truth.

 

[ThrottleJockey]

I've been hearing ppl for over a month talking about jumping on a bunch of facebook stock, doubling their money and selling half the stock to wind up with a bunch of free facebook stock....I have laughed at each and every one of them and told them this-Facebook is going down FAST and cannot be sold the way myspace was. This is Zuckersmurfs way of cashing out while he can in the only way he can. DO NOT BUY facebook.....
They kept telling me I was crazy....I'm still laughing. Anyone doubting my prediction is free to go look at my timeline

 

[Prometheus]

That sound you hear is what a house of cards sounds like when it falls.

FB produces exactly nothing.

FB is nothing more than a fancy data base.

FB is an empty shell. It is nothing. How can it even be worth $14? or 14cents?

While I agree 100% with John Galt's previous post, I have to disagree with FB being worth nothing.

Hundreds of millions of people find it useful. The ad revenue it generates is huge. It produces entertainment... it's no different than TV or a movies.

That said, a social site like that is easily influenced by the winds of change and a fickle user base. Myspace anyone?

FB may have some worth... of course under our current market scheme, it is no better, or worse, than Ford, GE, GM or Walmart.

It's all scam.

 

[mydoghasfleas]

"You must spread some rep around before giving it to John Galt again"

I tried!

I was also going to rep him (already did earlier on another post), so I guess just another

 

[Tsigos]

Facebook has some revenue but not enough to make it worth $100 Billion. Facebook will have to find a way to monetize more of its users' information to support that valuation. Prepare for a change in FB's privacy policy.

 

[ThrottleJockey]

Facebook has some revenue but not enough to make it worth $100 Billion. Facebook will have to find a way to monetize more of its users' information to support that valuation. Prepare for a change in FB's privacy policy.

You bet! There is plenty of value to marketing agencies and government agencies, but that's about it. It is a wealth of personal information that people ignorantly volunteer.

 

[ocsdor]

Theft! What theft?! The stock market is ONE BIG RIGGED CASINO and anyone that believes the trash coming out of Wall Street deserves what they get. We are living in such a surreal, openly corrupt period of history that it's mind-boggling! The plundering of the middle class and their children via bailouts/printing/inflation is the greatest theft in history!
Pray for Karma. Hard Karma!

 

[Liberty's Teeth]

Why would anyone buy a stock trading at over a hundred times earnings?

 

[IndyDave1776]

Why would anyone buy a stock trading at over a hundred times earnings?

Probably for the same reasons why they support politicians leading them straight to the slaughterhouse.

 

[Liberty's Teeth]

I knew this was going to happen. I thought it would drop like a rock and then I might get in at a reasonable price and flip it right away but even at $31 it is still trading at 99 times earnings. A surprising stock that I thought was in the same boat (and I don't own) is Apple. I thought for sure it was trading on hype but it in fact, at $557 a share is trading at a far more palatable 13.58. I think Apple is at the absolute top of it's game though at this point and there is no where to go but down or sideways.

 

[nawainwright]

Facebook will have to grow revenues 41% annually every year for 5 years in order to be seen as anything that approaches success. It's a "cash-out". As someone who has tried to use Facebook for marketing....its pretty worthless. Even Government Motors has pulled advertising because its ineffective. If GM recognizes something as ineffective, the apocalypse has arrived.

How Facebook could destroy the U.S. economy - Paul B. Farrell - MarketWatch

 

[churchmouse]

No one...I mean no one really reads any of the crap ads on FB. My kids, their friends and most all I know jump right past them and get to the "Social" aspect of the site. Advertisers are up our butts 24/7 these days. 5 minutes of TV and 10 minutes of ads/commercials. I record any show we watch regularly so we can fast forward through all the crap commercials and political MSM hype.