Remember Facebook stock is to generate money for Facebook not a great 1 day bang investment stock but I said the same thing with Chipotle. Time will tell.

wait till it drops next month.

Chipotle Mexican Grill (CMG) was a stock, that for me, was similar to Apple.... Every time I went by one - there was a line out the door.
So I bought it (around $85 a share) and when I'd just about DOUBLED my money - I sold it. DUMB ME. I should have held it and added to the position in 08/09.

There is another shining example (go back a few posts to see why I reference it here) of ----- if you only paid attention to the P/E multiple ----- you'd have lost out on what has turned out to be a terrific money maker.

As usual , Greg is right..

It was the underwriters..

I was just doing more research..

I am not interested in Facebook, but I am interested in how they play the game..

I smelled something fishy, and I was just trying to determine the fishermen..

I think the people's information being sold, is the key to Facebook, and for me, that is why I am not on Facebook, and why I do not own it..

Ill go out and get some steak tacos for lunch today. The Chipotle near me in Dublin has been here for 2 years and the line is still super long.

Just wanted to point out that my gut feeling was pretty correct. :woot:

Facey Book IPO
 

In the interest of full disclosure --- I sold ALL 1000 shares of Faceybook this morning.

This thing is a ROCK....

Since it doesn't pay a dividend and seems to be falling like the rock I thought it might be. I'm out. I'm headed to a nice trip and don't want to return to see this thing in the teens.

To put this "sale" into perspective....

Last week I sold 60,000 shares of Banco Santander (STD) at a $71,000 loss.
While the stock paid an extremely nice dividend... the risk seems to be growing for europe rather than them getting their act together and while STD might be fine... when you're hearing about runs on banks etc. that becomes troubling when you have the kind of investment size that I carry per name. At some point it pays to take a hit and see where the train stops, rather than stand in front of it, and get hit head on.

LMAO I was going to post that it reminded me of a Chevy Commercial, "like a rock", but you beat me to it..

And Europe is in Trouble...What they say at the meeting at Camp David, and what they Actually do when they get home, are two different things..

France will print and what will Germany do ?

I see more printing and spending, but that only postpones the train wreck.

So I have been, and will be riding the spending train, but for how long ? Probably through the election in November..The powers that be do not want to let the train wreck in the U.S. until after November.

My Wife wants to move to a even Nicer Home, and I am postponing it until after November..

I need to keep my Cash/Dead Presidents at the ready...

Hold on, it is going to get bumpy at the very least, and may get Ugly in Europe, and in the U.S.

But that is my .02 cents.

Facey Girly Book IPO
 

Yeah --- I wasn't interested in the damn thing to start with... but when the broker called and offered IPO price I thought - sure... WTF why not. Dumb of me = I know better than that.

Today I spent dead presidents on adding a 1000 shares of Con Ed (ED) - and 1000 Kimberly Clark (KMB) - and a tranche (50K) of GM Convertible Preferred paying 6.25%

Much more my speed....