Investing 102

[GregWeld]

FACEYBOOK


Okay -- I've had about a zillion emails / PM's / Calls asking if "I should - could - would" buy into the FACEBOOK IPO. So here's my take on it - it's GAMBLING - it's HYPE - but it also appears to be BIG....

SO because of my "accounts" -- I've been "allowed" to get into the IPO at offering price ($28 to $35) one of my brokerages. I have asked for 2000 shares. Remember that this is 'over subscribed' so I might not get any - I might get 100 I might get 10.... I'll get what I get and pay the "set" price at OPEN.

I would NOT buy RETAIL -- in other words --- the first trades AFTER the IPO set price! That could be 60 - 70 - 80 - 100 who knows -- but since I can get in at the set price - I stand a chance of having a gain.

I'm sharing this - as I do my other "investment life" as a "here's how all this crap works investing 102 experience". So as usual -- this is a "it takes money to make money" moment. I wouldn't be allowed into the IPO if I didn't already have a substantial account! The guy that needs it the least - gets the most... I don't happen to like that morally but it is what it is.

This is expected to price TOMORROW --- so you can all live vicariously and see if I sink or swim. I don't like Facebook - I don't use it - but EVERYBODY but me does... I think it's a fad but I'm not against making money - regardless of what I think.