LATEST COVER STORY FROM BARRONS JOINING MY PARTY

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Considering the fact that it was I, your handsome and buffed proprietor of this site that said Facebook was worth $15…WHEN IT WAS $38…that I should chime in…especially with this latest cover story from Barrons joining my party.

Let me just say that nothing has changed in my thoughts. Valuation is still a joke…even at these levels…and we are not even in a bear market.Bear markets take stocks down to low valuations. So while it is tempting to fade a cover like this, I would like to see some evidence from Facebook that they are re-accelerating their numbers before I am a bull on this stock. And again, I do not blame Facebook for this IPO debacle. I blame the greedy, slimy bankers that were hoping for another bubble. They knew the valuation was a joke…but still decided to screw the investing public.