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Facebook Going On The Stock market

Discussion in 'ex-Rag Chew Central' started by W0UZR, May 15, 2012.

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  1. W0UZR

    W0UZR Ham Member

    Anyone have stock in Facebook? Then you may be not worring about money anymore. But I'm thinking of quitting facebook. Maybe I'll switch to Google! I think everyone should. When a person will renounce his citizenship just to avoid paying his taxes, I don't have much respect for him. Why give this guy more business?
    http://www.chron.com/business/press...nder-Eduardo-Saverin-Renounces-US-3558119.php
     
  2. KT1F

    KT1F Ham Member

    He was born in Brazil and moved to the US with his parents when he was 11 years old. I doubt if he himself chose to become a US citizen.

    He now lives in Singapore. Why should he pay US taxes?

    The US is unusual among countries in that it taxes its citizens no matter where they live. I don't think any other country does that. The only way to "escape" is to renounce citizenship which of course most natural born Americans are reluctant to do. He was never American in the first place so it's probably not a big deal to him.
     
  3. N2RJ

    N2RJ Ham Member

    Saverin was just one of the founders. He was kinda crazy too. He froze the company's bank accounts in 2005. Zuckerberg (the other, more famous founder) ended up reincorporating the company in Delaware.

    I don't have much respect for such people either but I can understand their motivation. However I have even less respect for people who move their companies offshore to tax shelters in the Caribbean and other places avoid taxes. There's an ultra wealthy billionaire who did just that and who also spends a lot of his money trying to influence our elections.
     
  4. N2RJ

    N2RJ Ham Member

    A lot of native born Americans are renouncing. In fact, some of the most anti-American statements from ex citizens have come from native born Americans, like Bobby Fischer. 1788 people renounced their US citizenship in 2011.

    Maybe it's dissatisfaction, maybe it's greener pastures, maybe they just want the freedom to be free from some of the inane restrictions placed on US citizens, such as travel restrictions to Cuba and other places. But people are doing it and the number is growing. (I personally would never do it.)
     
  5. KB1JCY

    KB1JCY Platinum Subscriber

    I put in for a bid of shares at $35. Hopefully I get that price. I plan on flipping FarceBook at market open then buying myself something nice at HRO.
     
  6. W4HAY

    W4HAY Subscriber

    You might want to flip fast!

    COMPLETE ANALYSIS:
     
  7. G0GQK

    G0GQK Ham Member

    Like the man said if he was born in Brazil, his parents made him become an American and he lives in Singapore and he has a shedful of Wonga he can become a citizen of anywhere. Is not America the Land of the Free ?
     
  8. KG6MZS

    KG6MZS Premium Subscriber

    I can't imagine the IPO on Facebook is going to be a good investment. But what do I know? Seems like "irrational exuberance" to me.
     
  9. KT4LF

    KT4LF Ham Member

    General Motors just pulled their ads from Facebook, and Warren Buffet (Berkshire Hathaway) just bought 10 million shares of Facebook...FB's IPO is kinda like the upcoming election, no one can predict which way it will go. (but my money's on Warren Buffet)
     
  10. N2RJ

    N2RJ Ham Member

    People said that about Google, and Apple was written off as a goner a while back.

    Look at both of them now. :)
     
  11. K6BBC

    K6BBC Super Moderator

    Nobody ever clicks on the ads in FB. The stock will sell high and lose 50% of its value within weeks. So, if you are looking for that tax loss for 2012 - here it is!

    bbc
     
  12. KG6MZS

    KG6MZS Premium Subscriber

    Admittedly I know nothing. But when it comes to the economy, nobody knows anything. It's chaos theory, AFAICT.
     
  13. N2RJ

    N2RJ Ham Member

    I am saving this quote. It would be nice to see what happens in weeks, months, years...
     
  14. K6BBC

    K6BBC Super Moderator

    I have one word for you... MYSPACE.

    bbc

     
  15. W4HAY

    W4HAY Subscriber

    More from the elves and gnomes of Wall Street...

    Time for Facebook to Grow Up
     
  16. N2EY

    N2EY Ham Member

    I wouldn't bet the farm on the Facebook IPO.

    I heard a pretty good analysis on the radio yesterday. The point made was that while FB is worth a lot of money, $100 billion is simply too much because the revenue isn't enough to justify it.

    Apple stock is worth a lot of money because they sell a lot of product. Compare their market valuation (total cost of all shares) to their annual profit and you get a certain ratio. FB's ratio is off the charts by comparison. Off the charts the wrong way.

    The folks who will make the bucks on Friday are those handling the sales and collecting the fees.

    73 de Jim, N2EY
     
  17. KT1F

    KT1F Ham Member

    Whether or not Facebook is worth that much is debatable but I think it's at least got more substance to it than Groupon.
     
  18. W4HAY

    W4HAY Subscriber

    It wasn't pretty at the opening bell this morning.

    DETAILS HERE:
     
  19. W4HAY

    W4HAY Subscriber

    And the debacle continues:

    Unfriendly Fire: Shareholders Sue Facebook, Morgan Stanley

    *****
    Who Forced Anyone To Buy Facebook?
     
  20. AF6LJ

    AF6LJ Ham Member

    I have to agree with the people I get my news from........

    Classic Pump & Dump.

    Even the President was hyping this a couple of months back.

    If this joker doesn't get thrown in jail I would get rid of all my stocks if I had any..
    I got smart and got out of the market back in mid 87 just before the crash.
     
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