I had a short interaction last week on a friend's Facebook page about, of course, the Facebook IPO. When I mentioned that many of the same types of criticisms were applied to Amazon 10 years ago I got a spew of pretty much nonsensical comments. "Amazon took 10 years to become a good stock" "You only buy short term in the market" "Amazon finally made money because of the Kindle". I'm sure those comments are correct in some weird context but as someone who bought Amazon at $16 in 2002 I think I kind of have the last laugh. So I confess...I bought Facebook stock the day of the IPO. And I'm holding it because I'll bet this is just a phase. One I can make money from.
