Back in the days of the over-hyped build-up to the Facebook IPO the think tank here at Falling Downs revelled in playing the party pooper.
"Go short, my friends!"
Indeed, for about six short months, I looked like a genius!
Folks have generally forgotten that FB lost 50% of its IPO price in the first six months after they went public.
That October you could buy Facebook shares for less than half the issue price, but why would you?...
Fast forward four years; FB hit a new high today; $112. That's roughly a 300% gain on the issue price. Or a 600% gain on the lows of that October.
Good thing I'm just an amateur stock-picker; I only lose my own money.