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(CNN)   "Bahhh, I ain't buyin' your Face-Place flimflammery. In MY day, we kept in touch by shoutin' real loud. 'HOW'S LIFE, CHARLIE?' 'SUCKS, WARREN.' And we all went deaf and mute at 15 and we LIKED it"   (money.cnn.com) divider line 57
    More: Hero, Charlie Munger, Warren Buffett, co-pilot  
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14072 clicks; posted to Main » on 06 May 2012 at 11:59 AM (2 years ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2012-05-06 12:02:18 PM
this is the funniest shiat i've read all day!!! dnrtfa.
 
2012-05-06 12:02:29 PM
Dear Subby,

Smart investors like Buffett and others don't buy into an IPO. That doesn't mean they won't pick up the stock early after the initial transients have settled out of the price.

Sincerely,

The Guy who Always Buys High and Sells Low
 
2012-05-06 12:02:55 PM
Would like to see where this thread goes, but I have to get to fixin' my lawn.
 
2012-05-06 12:05:38 PM
After reading the article its easy to see why these guys swim in dough. "I don't buy things I don't understand" Best advice and probably ignored all day long.
 
2012-05-06 12:06:20 PM
What idiots. By the way, how's that Groupon IPO working out for the rest of ya?
 
2012-05-06 12:07:06 PM
Anyone with any investing sense never buys an IPO until it settles.
 
2012-05-06 12:07:16 PM
Is this Warren Buffett, the guy that is famous for not liking Tech stocks?
 
2012-05-06 12:08:36 PM
 
2012-05-06 12:09:41 PM
You tell 'em subby. WTF does Warren Buffett know about investing money?
 
2012-05-06 12:11:53 PM

rudemix: After reading the article its easy to see why these guys swim in dough. "I don't buy things I don't understand" Best advice and probably ignored all day long.


I do understand how Facebook works and I'm not going to buy into it because I think they're lying about their popularity. Supposedly they serve up custom tailored ads but I have yet to see one that looked interesting enough to click, leading me to think they have made massive profits from mis-clicked ads.

/I have better things to do with my money than invest in stocks
 
2012-05-06 12:13:00 PM

nickerj1: Anyone with any investing sense never buys an IPO until it settles.


Yeah, but you can make a lot of money with a quick pump and dump.
 
2012-05-06 12:16:06 PM
i always cringe at the thought of buying something as ultimately* transient as FB (or anything at all, frankly - the system is gamed, sorry Boomers ) at IPO. total sucker's bet.

* ultimately = remember myspace? ok, think of that lifespan and extrapolate out a bit....
 
2012-05-06 12:16:12 PM
Do not give faceplace your bank acct numbers and social security numbers, along with organ donation, address, sad relationship statuses.... Duh
 
2012-05-06 12:19:44 PM
Of course FB is popular! Just ask my ex who has a public page showing how slutty she is! Too bad she doesn't know about it...
 
2012-05-06 12:22:46 PM

henryhill: You tell 'em subby. WTF does Warren Buffett know about investing money?


I think subby used the HERO tag.
 
2012-05-06 12:29:39 PM

Snarcoleptic_Hoosier: nickerj1: Anyone with any investing sense never buys an IPO until it settles.

Yeah, but you can make a lot of money with a quick pump and dump.


I got on the hook for 18 years of child support plus college expenses.
 
2012-05-06 12:30:29 PM
images2.wikia.nocookie.net
 
2012-05-06 12:37:23 PM
I wouldn't buy it either. Facebook is already at maximum saturation, and its no Google. Only way it can go is down.

/Now excuse me while I go check facebook.
 
2012-05-06 12:39:24 PM

Need_MindBleach: I wouldn't buy it either. Facebook is already at maximum saturation, and its no Google. Only way it can go is down.

/Now excuse me while I go check facebook.


This.
 
2012-05-06 12:39:52 PM

beanx: i always cringe at the thought of buying something as ultimately* transient as FB


I know this sounds like a dumb question, but where do these multi-million/billion-dollar valuations come from? It seems like they're just pulling numbers out of asses, especially when some of these companies aren't even making enough profit to come close to these numbers in 100 years. And they're certainly not lasting that long. Someone is getting scammed, somewhere.
 
2012-05-06 12:42:04 PM
Facebook is doomed to fizzle and we all know it.
In fact, I give it 2 years until it's replaced by the next thing.

/escuze me whilst I venture to update my friendster page...
 
2012-05-06 12:42:30 PM
Subby is a hipster; sounds fat.
 
2012-05-06 12:42:39 PM

Snarcoleptic_Hoosier: nickerj1: Anyone with any investing sense never buys an IPO until it settles.

Yeah, but you can make a lot of money with a quick pump and dump.


If you're a member of Congress or some financier's buddy and get allocated some IPO stock that you can bail out of in the initial trading. Hoping to buy it on the open market on IPO day and get out at a profit is like putting your money on the pass line.
 
2012-05-06 12:43:19 PM

nickerj1: Anyone with any investing sense never buys an IPO until it settles.


Unless you're on the inside, of course.
 
2012-05-06 12:48:56 PM

ArcadianRefugee: What keeping in touch by shouting might look like.


Right after that video the next "featured" is Fark's mascot, ball sack squirrel

www.majhost.com
 
2012-05-06 12:52:41 PM

jjorsett: Snarcoleptic_Hoosier: nickerj1: Anyone with any investing sense never buys an IPO until it settles.

Yeah, but you can make a lot of money with a quick pump and dump.

If you're a member of Congress or some financier's buddy and get allocated some IPO stock that you can bail out of in the initial trading. Hoping to buy it on the open market on IPO day and get out at a profit is like putting your money on the pass line.


Well yeah, but really, what are the chances people would use insider information to make a quick buck? THAT WOULD BE UNETHICAL!

/Also, I'm looking to buy a bridge in the Brooklyn area
//I can pay with large boxes of unmarked cash
 
2012-05-06 12:54:37 PM
They did not ask the Oracle of Omaha how he feels about a Fark IPO.

/Of course a Fark IPO may stand for I Pissed Openhandedly after a night of drinking whisky and beer.
 
2012-05-06 12:54:47 PM

oh_please: beanx: i always cringe at the thought of buying something as ultimately* transient as FB

I know this sounds like a dumb question, but where do these multi-million/billion-dollar valuations come from? It seems like they're just pulling numbers out of asses, especially when some of these companies aren't even making enough profit to come close to these numbers in 100 years. And they're certainly not lasting that long. Someone is getting scammed, somewhere.


Two words: Goldman Sachs.
 
2012-05-06 12:57:25 PM

oh_please: beanx: i always cringe at the thought of buying something as ultimately* transient as FB

I know this sounds like a dumb question, but where do these multi-million/billion-dollar valuations come from? It seems like they're just pulling numbers out of asses, especially when some of these companies aren't even making enough profit to come close to these numbers in 100 years. And they're certainly not lasting that long. Someone is getting scammed, somewhere.


WHO CARES? IT'S FACEBOOK! YOU'LL MAKE BILLIONS!

Actually, they've been reporting on the valuation for months (google it), but a lot of it still sounds like guesswork to me.

I'm also left wondering: once Facebook goes public, will the pressure to turn a profit ruin the company? Zuckerberg is retaining an extraordinary amount of control, but if they start obnoxiously pumping users for cash I wonder if all the users will just leave. Or maybe once they start taking advantage of all the free content that's been uploaded over the past six years, people will realize turning their entire life over to a third party might not be the best idea.
 
2012-05-06 12:57:56 PM
i wouldnt trust money to a company that was willing to blow $2 billion on an app either...
 
2012-05-06 12:59:07 PM

Mentat: oh_please: beanx: i always cringe at the thought of buying something as ultimately* transient as FB

I know this sounds like a dumb question, but where do these multi-million/billion-dollar valuations come from? It seems like they're just pulling numbers out of asses, especially when some of these companies aren't even making enough profit to come close to these numbers in 100 years. And they're certainly not lasting that long. Someone is getting scammed, somewhere.

Two words: Goldman Sachs.


I always wondered how a tech company that really produces nothing tangible is suddenly worth billions of dollars. In light of the GS' role in the financial failure of Wall Street, it all makes sense now.

It's the same way DeBeers made diamonds "valuable".
 
2012-05-06 01:06:03 PM
Facebook is actually a little overdue for jumping the shark. This IPO should take care of that.
 
2012-05-06 01:16:29 PM
Lsherm: people will realize turning their entire life over to a third party might not be the best idea.

Facespace only knows that I like booze and cats, soooo good luck to them trying to profit from me.
 
2012-05-06 01:20:27 PM

Mentat: oh_please: beanx: i always cringe at the thought of buying something as ultimately* transient as FB

I know this sounds like a dumb question, but where do these multi-million/billion-dollar valuations come from? It seems like they're just pulling numbers out of asses, especially when some of these companies aren't even making enough profit to come close to these numbers in 100 years. And they're certainly not lasting that long. Someone is getting scammed, somewhere.

Two words: Goldman Sachs.


Government Sacks....

ftfy
 
X15
2012-05-06 01:22:17 PM
Facebook is spending money like there's no tomorrow, they plan to triple their employee count in the next five years. And yet there's no sign that they intend to branch out like Google has, and no way their user base will increase at anywhere near the same rate.
 
2012-05-06 01:27:10 PM

deadcrickets: Of course FB is popular! Just ask my ex who has a public page showing how slutty she is! Too bad she doesn't know about it...


Link??
 
2012-05-06 01:30:32 PM
While I read the article, the video was a better synopsis of his opinion on the American economy the craziness in Europe and the ability of Americans to harness the human potential.

His opinion of Obama and Romney were great as was for his assessment of regulation/deregulation.

Buffett is an optimist and I echo his sentiment.
 
2012-05-06 01:48:16 PM
He should buy it and shut it down... or turn it into a lemon party style site for him and his buddies to show the world their goods.
 
2012-05-06 01:53:59 PM
"I don't want people putting all this personal stuff into a permanent record when they are 15 years of age. I think it's counterproductive. I just basically don't like it."

This guy's smart. He's rich, right? Well, he's smart.
 
2012-05-06 01:59:52 PM

ultraholland: Lsherm: people will realize turning their entire life over to a third party might not be the best idea.

Facespace only knows that I like booze and cats, soooo good luck to them trying to profit from me.


Fark in a nutshell*. Cats are optional.

/ *Notice I didn't say nutsack? Yep, mighty grown-up of me! Now, where's my squirrel jpeg......
 
2012-05-06 02:11:01 PM
obligatory:

i1164.photobucket.com
 
2012-05-06 02:21:27 PM

beanx: Mentat: oh_please: beanx: i always cringe at the thought of buying something as ultimately* transient as FB

I know this sounds like a dumb question, but where do these multi-million/billion-dollar valuations come from? It seems like they're just pulling numbers out of asses, especially when some of these companies aren't even making enough profit to come close to these numbers in 100 years. And they're certainly not lasting that long. Someone is getting scammed, somewhere.

Two words: Goldman Sachs.

Government Sacks....

ftfy


Er, no.
Try: http://www.moodys.com/

..perhaps one of the larger criminal organizations on the planet.
 
2012-05-06 02:47:33 PM
Everything I read shows FB is on the decline with regard to revenues and sales. I am the furthest thing from being business savvy, but people are already talking about it losing it's status as being "cool." That typically heralds the arrival of the next big thing. Anyhow, my opinion is that Zuck sees this happening too and is now going to cash out as quickly as possible before his paper fortune vanishes. 2 years from now you'll have a bunch of fools crying in their beer talking about how they lost a ton when FB went the way of MySpace. I have friends still lamenting the Krispy Kreme IPO.
 
2012-05-06 03:04:25 PM

Tadpole: Do not give faceplace your bank acct numbers and social security numbers, along with organ donation, address, sad relationship statuses.... Duh


But keep those nude photos of your nubile teen self coming, girl!
 
2012-05-06 03:30:06 PM

BarkingUnicorn: Tadpole: Do not give faceplace your bank acct numbers and social security numbers, along with organ donation, address, sad relationship statuses.... Duh

But keep those nude photos of your nubile teen self coming, girl!


Ummm, I'm a 45 yo dude with five kids. I'm not nubile, I'm nearly futile.
 
2012-05-06 03:36:03 PM
opened the article.
began reading the article.
video ad covers screen halfway through first sentence.
DNRTFA.
 
2012-05-06 04:04:31 PM

deadcrickets: Of course FB is popular! Just ask my ex who has a public page showing how slutty she is! Too bad she doesn't know about it...


What, no link?
 
2012-05-06 04:31:58 PM

oh_please: beanx: i always cringe at the thought of buying something as ultimately* transient as FB

I know this sounds like a dumb question, but where do these multi-million/billion-dollar valuations come from? It seems like they're just pulling numbers out of asses, especially when some of these companies aren't even making enough profit to come close to these numbers in 100 years. And they're certainly not lasting that long. Someone is getting scammed, somewhere.



They get that valuation by multiplying the number of shraes they're going to sell by the price they expect to get for each share. It's usually quite close. For companies that aren't going to be listed soon, like Facebook 2 years ago, or Instagram before facebook bought it, it gets a valuation when an investor puts money into the company. If, 2 years ago, Goldman Sachs decided to give Facebook $1 billion in venture capital and demanded 5% of the company to do it, they'd be valueing Facebook at $20 billion. That's where these numbers come from.
 
2012-05-06 04:34:30 PM

kagemaru026: opened the article.
began reading the article.
video ad covers screen halfway through first sentence.
DNRTFA.


FF + ABP + NoScript = success!
 
2012-05-06 08:32:50 PM

kagemaru026: opened the article.
began reading the article.
video ad covers screen halfway through first sentence.
DNRTFA.


------

If you aren't smart enough to use adblock and noscript, I'm surprised you're able to read at all.
 
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