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(Marketwatch)   "I love the Facebook hate and you should too"   (blogs.marketwatch.com) divider line 15
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2549 clicks; posted to Business » on 07 Jun 2012 at 10:57 AM (2 years ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2012-06-07 10:48:22 AM  
Now to post this in the correct thread: So by the logic of this individual it is now time to invest in Greek bonds! HOORAY I AM NOW THE RICH PERSON!
 
2012-06-07 10:59:00 AM  
Let's all be non-conformists!
 
2012-06-07 11:04:39 AM  
This farking dork again:

A few years ago I developed the Cody's Inbox Hate-O-Meter which turned out to be an excellent contrarian indicator. One of the classic examples of its efficacy was back when I bought Apple common and calls at $7 a share when they had $8 per share in net cash back in March 2004 and my inbox was full of mocking emails saying things like "Why, is the next Apple Newton finally going to hit?" as it was wildly unpopular to buy Apple back in 2004 as evidenced by the fact it was trading for less than the amount of cash it had on the balance sheet at the time. Apple AAPL +0.26% now has more than $100 per share in net cash by the way.

It's the "Let Me Tell You About This One Time I Was Right Guy." How about you tell us about all those times you blew it?
 
2012-06-07 11:07:27 AM  
"Whaaa! I hate anything that's popular!"

Just started using Facebook to communicate with friends. Not something I expect to spend a whole lot of time with, but it has its uses.
 
2012-06-07 11:09:29 AM  
I can't wait to laugh at him in six months when Facebook hits $8 a share.
 
2012-06-07 11:38:47 AM  
I like how he didn't explain anything other than people on the internet can sound stupid when they're wrong or when they're right.

/Stock price is based on internet hate mail sent to some guy I've never heard of, apparently
 
2012-06-07 11:39:01 AM  
I purchased BOA for 3 a share and sold them for 10 a share a month later. Chase I purchased for $1 a share and sold for 2.50 a share later on. Sometimes you get the bull like this guy picking Apple early. Usually not though.

At 70X earnings I don't see any value for my style of investing in FB. There are still two months to go before insiders can bail on their stock and I guarantee there will be a lot of them doing that. So in two months we'll see a lot of selling going on and if FB can manage to get to 40X earnings I might pick some up. Otherwise I don't see making a lot of money off it at this time.
 
2012-06-07 12:04:11 PM  
Hey look, we found the one guy stupid enough to get FB stock, and he's only doing it out of spite.

/your blog sucks
 
2012-06-07 12:48:08 PM  
I find it hard to believe people still use it at all. I understand the initial appeal, it was something new, it integrated a lot of common online activities, etc. But it does a hell of a lot of things that most people don't want it to as well, and they don't let you turn those things off. It is very much like early versions of IE in that regard.

You aren't still using IE, are you?
 
2012-06-07 01:02:15 PM  

Balchinian: I find it hard to believe people still use it at all. I understand the initial appeal, it was something new, it integrated a lot of common online activities, etc. But it does a hell of a lot of things that most people don't want it to as well, and they don't let you turn those things off. It is very much like early versions of IE in that regard.

You aren't still using IE, are you?


My Girlfriend can sit on FB for hours. I have no idea what she does on it because she doesn't play the games. The rest of my family lives on it too. I log in like twice a week. So while you and I don't understand the appeal for some reason it's there and for some reason a lot of people love being on it.
 
2012-06-07 02:18:16 PM  

xynix:
My Girlfriend can sit on FB for hours. I have no idea what she does on it


It is the new AOL.
It is a walled garden application that encourages you to connect to your friends and does not require learning any appreciable online skills.

It allows people who were 'too scared' of the complexity of the web to start a website, or a blog, or figure out chat programs like Skype, ICQ, etc.

It is more interactive than phone texting, it morphs well to a person's phone so they can seamlessly pick up their phone activities on their PC when they get home. My wife (soon to be ex - file papers this month) gets on with her 100+ "friends" and just scrolls, scrolls, scrolls through all their updates for the whole freakin day as people post about taking a duece, their cute kittens and all that shiat.
 
2012-06-07 02:41:26 PM  
Buying AAPL low and hanging onto it is one thing. Good call on his part, but keep in mind that they have generally been profitable, even though they pay no dividends.

Facebook, meanwhile, has generated no profits, is not generating profit, and does not appear to be likely to do so in the foreseeable future. If they lose money long enough, eventually people quit sticking more cash in... it will eventually fail. Nor do they have a significant portfolio of actual THINGS... their value is in social media content, ads, and being a portal to games for bored housewives. If the company goes out of business it isn't like they have factories, airplanes, or anything else that can be sold off. So you can't count on dividend payments, you can't count on the company being around forever, and if it fails there's no way to recoup any of the investment. It's a bad investment.

Being right once in a big way doesn't mean you're right all the time. You need to have a better reason to invest based on contrarian advice than "it worked this one time back in 2004." Such as expectations of Facebook generating a profit or suddenly becoming indispensable. In 2004 Apple's iPod and iTunes were gaining traction and they were getting ready to launch the iPhone. Facebook is preparing to do what, exactly? Farmville 2? Another redesign that annoys users? Another attempt to confuse users with an unnecessarily obtuse privacy setting rework?
 
2012-06-07 04:23:30 PM  

Rapmaster2000: This farking dork again:

A few years ago I developed the Cody's Inbox Hate-O-Meter which turned out to be an excellent contrarian indicator. One of the classic examples of its efficacy was back when I bought Apple common and calls at $7 a share when they had $8 per share in net cash back in March 2004 and my inbox was full of mocking emails saying things like "Why, is the next Apple Newton finally going to hit?" as it was wildly unpopular to buy Apple back in 2004 as evidenced by the fact it was trading for less than the amount of cash it had on the balance sheet at the time. Apple AAPL +0.26% now has more than $100 per share in net cash by the way.

It's the "Let Me Tell You About This One Time I Was Right Guy." How about you tell us about all those times you blew it?


Not white knighting this donkey, but according to TFA, he posts every trade he makes in real-time on his website.
 
2012-06-07 04:30:47 PM  

akula:

Facebook, meanwhile, has generated no profits, is not generating profit, and does not appear to be likely to do so in the foreseeable future.

Wrong. Sure, it's a piece of crap stock, but the company made about a billion net last year.
 
2012-06-08 08:55:46 AM  

Atomic Spunk: akula:

Facebook, meanwhile, has generated no profits, is not generating profit, and does not appear to be likely to do so in the foreseeable future.
Wrong. Sure, it's a piece of crap stock, but the company made about a billion net last year.


I thought it was last quarter but, either way, it makes profits just not enough to justify $38 a pop
 
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