Not sure, but if true, then this also means that 98% of their net worth is not in Facebook. Even higher now!
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I don’t have the best data feed for my chart, just the free one that comes with IBKR Lite. Does anyone else’s FB chart show this? Yesterday in the 30 seconds from 17:52:00 to 17:52:30, the candle opened $248.94, had a high of $323 and then came all the way back down to close at $250.50
Would happily bonfire 2% of my net worth to see Facebook burn with it.
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Someone needs to start an S&P Sans Stupid Stocks etf.
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Start with the entire universe and just eliminate nonsense?
Replace facebook with market and 2% with 60% and thats how I feel every day.
Thinking deeply about what parts of capitalism are stupid is not somewhere that most capitalists want to go.
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Despite the best wishes of many of us, Meta isn’t going anywhere long-term. They’ve got a lot of cash and low debt. I think they’re in a great position to scoop up some of these tech companies that crater. Like if NFLX gets to a price they like, FB could buy it, and suddenly combine their data and ad targeting capabilities with access to more than 200 million TV screens.
They’ve got about 1.8 Spotify’s in cash/short term. I don’t think that’s as interesting of an acquisition, but just to put it in perspective.
Think how many Hondas they could buy.
Yeah but watching their stock crater because they can’t do their most evil thing (manipulative targeted marketing) is a Good Thing.
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They have 1.03 Hondas in cash/short term.
I sometimes wonder: what the fuck is wrong with Sheryl Sandberg?
Imagine for a moment that you have infinity money. You can do anything, anywhere. And you have a life expectancy of like 25 years.
Now imagine spending that time licking Zuck’s ass and pumping digital feces into the brains of baby boomers. This is truly sociopathic and deeply evil behavior.
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She’s just leaning in.
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the stonk market is so efficient a stock can drop like crypto in a day
It sounds like this could become a loop where prices go up and then salaries go up to match.
Tell them they should sell their house and invest the proceeds in more Tesla. My advisory fee on this transaction is a mere 1% of the trade. Since Tesla always goes up 20% per day, they’d be stupid not to do it.
That takes nominal earnings higher, margins the same or lower, and if stock prices stay at the same nominal levels, P/E multiples come down. In other words, the stock can be worth the same nominal amount but be worth less in real world buying power. The question is where to put the money to fade that loss of buying power.
JFC. I hate that QCLN, which is like 3% of my portfolio, owns 5% TSLA or whatever.
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I know these financial advisor guys try to sell you on funds with high fees but they still do an invaluable service by discouraging regular schmucks from going all-in on meme stocks.