Facebook, Hastie and Investor Stupidity

Nice post from John Hempton this morning on Facebook and the sad case of ethical investment bankers. I agree 100% that IPO ‘investors’ only have themselves to blame for losing their shirts. They were all punting on making a huge stag profit – playing the greater fool game – and the other fool didn’t turn up. Tough. One thing Hempton didn’t address, though, is that Zuckerberg et al didn’t sell a huge percentage of their stock. The benefits from maxing out the amount of cash in round one could be offset by a haircut next time they want to...

Nice post from John Hempton this morning on Facebook and the sad case of ethical investment bankers. I agree 100% that IPO ‘investors’ only have themselves to blame for losing their shirts. They were all punting on making a huge stag profit – playing the greater fool game – and the other fool didn’t turn up. Tough.

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