Why I am buying facebook, and did aol, yahoo, amzn and pcln years ago...
In '93 I was told by nationsbank portfolio manager, that aol isn't anything but 'people clicking around'. I bought it anyways and a year and half later and 220 points it was put on sp 500 w it's own trading pit. I was told yahoo was just for internet newbies and did'nt mean anything to them and it went from 30 buck to 290 in a year. In 1998 I was told I was 'out of my mind' by b of a for buying so much amazon because it did'nt have enough earnings potential and retailers would either buy them out or eat them alive. Fifteen years later I am up 4000%. I bought priceline and ariba in 2002 at the bottom or their chart and was told that I am I was 'out of line' for buying them and that they would have to be sold if they did'nt move up by end of '03. Ten years later, who's laughing now? I also find it interesting that the 'brain' David Faber was quoted against me for a lot of the things I bought in my portfolios. He said 'I will never own and internet stock, EVER'. So, I am semi-retired and he's just pulling in 140k a year on a lousy ge pension. See you at 80+ a shares as I laid facebook's chart on top of yahoo's tonight and it is close to IDENTICAL, after it's ipo.
Watch Csco if it gets up above 25. Reason is I used to trade that every month on earnings, or when chambers would speak. He's probably the most honest ceo out there. I'd buy the itm calls for about .50 and sell them a day later for 1.50 or higher, then like all ndx stocks, they short sold it and let aapl's of the world go above 100 never to split again. It's tough to trade options on them, and that is the reason why they did'nt so the hedgies could borrow what they wanted on the shares and collar them. Too bad, but good times are here again with some of these. The play is that the gov't doesn't want the markets down. So they won't be able to hold these down much longer and sqeeze them to death, like gmcr and mnst. Nflx is also case in point. The fund managers jobs are overiding the illegal trading thats been going on since they cut interest rates to the bone.
Great post "kone" - I also bought and held AMZN since the 1990's when my friend/broker warned me against "these fads that will vaporize your investmenst" ..Thanks to the genius of Jeff Bezos, the rest is history. Hopefully, Zuckerberg is at least 50% the genius Bezos is and FB continues to monetize and expand its e-commerce horizon. All this ridiculous bashing, and commenting on daily moves is useless noise. Good luck to us longs who have the patience to stay long and believe.