patrick.net

MrMagic says

Goran_K says

I know a guy who is down $700,000 from bit coin and Facebook losses.

I hope he didn't use his credit card or home equity to purchase.

If he did, I hope he saved enough for a bullet.
Gosh, I've been so mean today.

Goran_K says

I know a guy who is down $700,000 from bit coin and Facebook losses. I’m chatting with him right now on Facebook.

A guy I worked with was did stay-at-home day trader during dot.com boom and bust. One day during an elevator ride he told me he lost $2M in a single day. My eyes popped out, but I kept my cool and calmly told him "Now I know why you work here." This is why paying off your mortgage is the safest investment.

I wonder if this drop was arranged somehow by pissy people on Wall Street (with connections to the media) to punish Facebook for the revelation by Rob Goldman, their chief of advertising, that Russia actually did not influence the election via Facebook at all. This made it much harder for the press to keep lying about it, and they really didn't like that.

https://townhall.com/tipsheet/timothymeads/2018/02/17/facebook-vp-of-ads-slams-media-coverage-of-russian-interference-n2450722

My hedge fund buddy shorted fb just before the close. As an investor in his fund I am pleased with the incoming money rain.

#fuckzukfuck

HEYYOU says

We should worry about money & the shit you don't need,the shit you can't buy, with the money you don't have.
Wealth is not in the number of pieces of paper one actually holds in their hands.
Knew that when I was young.

That's what I keep telling my wife.....Honey, you did not not say "yes" when i asked you to marry me 30 years ago, for my money. I had no money.
She said.......It wasn't the money. I married you for the credit cards.
Now you know why my life sucks.

I see there's concern on how many insiders dumped tons of stock in the last few months. It isn't just Zuckfuck.

175.43 -42.07 (-19.34%)
As of 10:48AM EDT.

Previous Close 217.50
Open 174.89

Analysts have started to downgrade FB. Right after it crashes. LOL. My dog could have done better. She recommends Petsmart.

One thing I learned working at Schwab is that analyst recommendations are actually worse than useless. The worst results come from buying stocks rated "strong buy"! The second worst are the stocks rated "strong sell".

Best results are from stocks rated "hold" or not rated at all.

I'm a pig. I bought some FB on this dip.

Think Zuck's wife would divorce him if he loses his job, his cash and gets evicted and has to move out of the Fortress?

https://www.bloombergquint.com/business/2018/07/26/putting-zuckerberg-s-16-8-billion-wipeout-into-perspective#gs.RjSlf78

Goran_K says

I'm a pig. I bought some FB on this dip.

This isn't a Dip, it's going to be a Casserole.

Tenpoundbass says

This isn't a Dip, it's going to be a Casserole.

We'll see if Zuckerberg is done. As soon as I see some cheese, I'm bailing.

Fuckbook can burn. I successfully avoided its clutches from the very beginning and can proudly say I outlasted its rise and now decline. Hopefully it goes off into obscurity like GeoCities pages, My Space, and Friendster. Imagine how much better the world would be without FB.

You know those so-called friends and family that try to have an "intervention", and corner you one night at home and start signing you up for Facebook against your will? Those fuckers can burn, too. I outsmarted 'em all!

Philistine says

Fuckbook can burn. I successfully avoided its clutches from the very beginning and can proudly say I outlasted its rise and now decline. Hopefully it goes off into obscurity like GeoCities pages, My Space, and Friendster. Imagine how much better the world would be without FB.

If FB burns to the ground, it will get replaced by something similar. FB provided an effective form of communication. The need for better communication has always existed since prehistoric times. Wether it's hand signals, smoke signals, pigeons, TV, radio, radar, telephone, or internet, if there is a better faster and cheaper form of communication, it will succeed.

I'd be alright with FuckBook if Zuckerberg, his ugly girlfriend, and his staff weren't such raging Democrat Fascist editing and blocking content.

Goran_K says

I know a guy who is down $700,000 from bit coin and Facebook losses. I’m chatting with him right now on Facebook.

Wow! That is an amazing loss, I wonder how much margin/loans?

Facebook effects:
- makes people unhappy: https://www.newyorker.com/tech/elements/how-facebook-makes-us-unhappy
- makes people lonely and less sociable: http://www.dailymail.co.uk/news/article-2419419/All-lonely-Facebook-friends-Study-shows-social-media-makes-MORE-lonely-unhappy-LESS-sociable.html
- makes teens suicide more likely: https://nypost.com/2017/11/14/rise-in-teen-suicide-connected-to-social-media-popularity-study/
- spreads misinformation: https://www.bloomberg.com/view/articles/2017-08-31/why-fake-news-spreads-so-fast-on-facebook
- increases polarization: https://www.brookings.edu/blog/techtank/2015/05/13/political-polarization-on-facebook/
- compromises peoples privacy: https://www.forbes.com/sites/thomasbrewster/2016/06/29/facebook-location-tracking-friend-games/#2f52462035f9
- makes people lose time: https://www.huffingtonpost.com/billrobinson/facebook-the-worlds-bigge_b_4585457.html

Are these people evil? Nope, (it would be hard for evil people to accomplish all this) just fine capitalists trying to make a buck.

But hey, Goran doesn't care. Only Zuck is a dem. Doh!

Why should I care about people’s personal choices? That’s the great thing about being a libertarian.

Never have American libertarians loved so much authoritarianism .

Heraclitusstudent says

Never have American libertarians loved so much authoritarianism .

Are you sure you're using that word correctly? Care to point out any policies or just going to be satisfied with levying attacks without substance?

MrMagic says

I see there's concern on how many insiders dumped tons of stock in the last few months. It isn't just Zuckfuck.

"SEC May Want To Take A Look": Facebook Insiders Dumped $4.1 Billion Weeks Ahead Of Record Crash.

Bloomberg has also picked up on this insider selling deluge, and writes that "nine Facebook insiders combined to sell about $4.13 billion worth of stock since the Cambridge Analytica data-mining scandal first surfaced on March 17."

Chief Executive Officer Mark Zuckerberg accounted for 85 percent of the total, according to data from InsiderInsights.com, which analyzes such transactions. The social media giant’s stock fell as much as 24 percent in late trading Wednesday after second-quarter sales and user growth disappointed investors.



The acceleration in selling is notable because as Gartman, and we, showed yesterday, that compares with $4.31 billion in all of 2017. And while the traditional excuse is that "the sales were part of pre-determined trading plans" the sharp acceleration in 2018 selling, and especially in recent months, should raise some eyebrows, perhaps those of the regulators, because as Gartman - who will have the last words - writes:

"The selling was of such massive size and such recent hurried nature that one had to take note of Zuckerberg’s liquidation as a clear indication of future potential problems. Those problems were made clear last evening. The SEC may want to take a look!"

Then again, with everyone's pension invested in facebook in some capacity, the last thing the SEC will dare to do is cause a market "event" by taking a close look at the one company in which as of last quarter seemingly everyone was invested...

https://www.zerohedge.com/news/2018-07-26/sec-may-want-take-look-facebook-insiders-dumped-41-billion-stock-scandal

For perspective, FB was last at today's price on April 23rd of this year so the loss is only rewinding back to then. So they lost 3 months of gains, big deal.

It's basically a non-story. Maybe hyped by the media out of hatred for Facebook's throwing cold water on the Russia hype.

Strategist says

FB provided an effective form of communication.

Facebook was a cul-de-sac on the path to better communication. People are finally realizing it, too. Twitter started the same year as Facebook, and yet somehow has become more relevant while Facebook is quickly becoming grandma's scrapbooking room. Instagram started as just pretty pictures and now is almost its own communication platform. All I ever saw on Facebook was people's falsely curated lives and shameless look-at-me-ism. And I am so glad I don't have any horror stories about random creeps from 25 years ago reaching out--if we haven't talked since high school, there's a reason!

Patrick says

FB was last at today's price on April 23rd of this year so the loss is only rewinding back to then. So they lost 3 months of gains, big deal.

It's basically a non-story.

It was overpriced in April.

Patrick says

It's basically a non-story.

The story isn't FB. The story is how inflated the market is. That's the only reason their losses top Intel's. Red herring, or canary in the coal mine, not sure which is more accurate, but it's a warning to everyone in stocks, not just FANG'ers.

MrMagic says

"The selling was of such massive size and such recent hurried nature that one had to take note of Zuckerberg’s liquidation as a clear indication of future potential problems. Those problems were made clear last evening. The SEC may want to take a look!"

#lockzukfuckup

Patrick says

For perspective, FB was last at today's price on April 23rd of this year so the loss is only rewinding back to then. So they lost 3 months of gains, big deal.

It's basically a non-story. Maybe hyped by the media out of hatred for Facebook's throwing cold water on the Russia hype.

True, but stalling user growth is often the beginning of a larger decline and many bought at the highs so a 20% haircut is significant. I don't like either FB or AMZN but AMZN and AAPL for that matter are in a different category than FB. I don't think FB is a good buy even here. Of course for long term holders this is not a big deal.

My order filled today at $175/share

Good time to buy

Patrick says

One thing I learned working at Schwab is that analyst recommendations are actually worse than useless. The worst results come from buying stocks rated "strong buy"! The second worst are the stocks rated "strong sell".

Best results are from stocks rated "hold" or not rated at all.

One thing to note about financial "experts" is that they are wrong consistently (not sure if this is because of the way game theory works)

BayArea says

My order filled today at $175/share

If FB maintains the revenue and profits around the same current level, given PE 25, its is not too expensive in the long run.

Blue says

Patrick says

One thing I learned working at Schwab is that analyst recommendations are actually worse than useless. The worst results come from buying stocks rated "strong buy"! The second worst are the stocks rated "strong sell".

Best results are from stocks rated "hold" or not rated at all.

One thing to note about financial "experts" is that they are wrong consistently (not sure if this is because of the way game theory works)

Forecasting is an art, not a science. If it was a science, all the analysts would always be right, because they learn the same thing at Ivy League schools. And they would all be billionaires. The truth is, they know everything about a stock except for the only thing that matters. The Future Fucking Price.

Blue says

BayArea says

My order filled today at $175/share

If FB maintains the revenue and profits around the same current level, given PE 25, its is not too expensive in the long run.

A PE of 25 will never hold though in a recession, PE could easily go below 10. But so far there's no recession in sight.

Patrick says

One thing I learned working at Schwab is that analyst recommendations are actually worse than useless. The worst results come from buying stocks rated "strong buy"! The second worst are the stocks rated "strong sell".

Best results are from stocks rated "hold" or not rated at all.

Agreed, the best stocks for me, multi-baggers and more, were those that had buy or hold on them (even though I don't give it much weight). Sometimes even sell. Strong buy and strong sell usually means avoid.

mell says

Blue says

BayArea says

My order filled today at $175/share

If FB maintains the revenue and profits around the same current level, given PE 25, its is not too expensive in the long run.

A PE of 25 will never hold though in a recession, PE could easily go below 10. But so far there's no recession in sight.

I'd keep a FB position at 25 PE. It is still the pre-eminent social media platform.

To be a prospective financial advisor one has to complete a 3-hour Series 65 exam, costs $178. The prerequisite is a undergraduate degree. It can not be too difficult to get one, hope many of you well aware of 'advisor'.

Blue says

To be a prospective financial advisor one has to complete a 3-hour Series 65 exam, costs $178. The prerequisite is a undergraduate degree. It can not be too difficult to get one, hope many of you well aware of 'advisor'.

So someone with a degree in music, who managed to pass a 3 hour test after 9 attempts, is fully qualified to advise you on how to handle your life savings.

CBOEtrader says

It is still the pre-eminent social media platform.

This is the crux of the biscuit. I've not seen a damn site that's even considered a legit competitor to FB. I wouldn't pour my fortune into FB at this point, but I also wouldn't be overly concerned that it's crashing harder. FB is purely based on human emotions and those turn at a moments notice. For now, I think FB is fine and given the communicative nature of our society, I think FB has a decent future. Not sure about stock price though.