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Facebook again
Yesterday, CNN Money had a big focus on Facebook's IPO.
CNN's Chief Business Correspondent, Ali Velshi, was explaining how to buy a stock (for example, Facebook), and said that the only reason one would want to buy a stock was in the hope that one could sell it for more later. His words! Capital gains or nothing. A tout for day trading?
CGs are nice, but from when I was old enough to hold a pencil, I was told that you buy a stock as an investment--an income stream. What Velshi says is only gambling, especially in the case of IPOs (which are a sucker's game, IMHO). As I recall, even Money Magazine once observed that most IPOs do not pay off very well.
I want a track record of earnings and dividends.
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I have outlived most of the people I don't like and I am working on the rest.
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