NEW YORK (MarketWatch) — When I think of the folks who hope to make money today by buying shares of woebegone Facebook (FB), I think of my own misadventures in the stock market.
A decade or so ago, I decided to dabble in technology stocks. It made perfect sense at the time. This sector was all the rage on Wall Street. Mind you, I was a novice when it came to the Internet. But no matter. Everyone agreed it was the next big innovation. And I couldn’t dawdle if I expected to make a killing. So, I executed my strategy of buying shares in a few companies that often appeared prominently in The Wall Street Journal.
Naturally, my ignorance and inexperience were exposed, as the price of the stock of Intel (INTC) — one of the new flavors of the month in my portfolio — headed south. I intended to resort to Plan B.
I told my friend and colleague Tomi Kilgore, who knows more about the stock market than anybody I know, that I was prepared to buy more Intel shares. He sensibly blanched and pointed out, “But the price is going down.” I nodded and said, “Exactly.” Then I added confidently, “Hey, the price can’t go to zero.”
Tomi frowned and asked, more sagely than rhetorically: “Why not?” Read why Tomi Kilgore says Facebook is flashing a ‘buy’ signal.
Why not, indeed?
Which leads us to Facebook, whose stock price has been dropping like a rock. The initial public offering was priced at $38. After reaching an intraday high of $45 on the first day of trading, on May 18, Facebook’s shares have plummeted about 57%, as of Tuesday trading.
On Monday, Facebook shares initially fell — reaching a low of $18.75 — then rebounded. Capstone Investments raised its investment rating on the stock to buy from hold, slapping a t
http://finance.yahoo.com/news/meet-facebook-suckers-040005690.html?l=1
Realist - Everybody in America is soft, and hates conflict. The cure for this, both in politics and social life, is the same -- hardihood. Give them raw truth.
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