Democratic Underground Latest Greatest Lobby Journals Search Options Help Login

Facebook IPO: Response From Asset Managers: Its a Dud

Printer-friendly format Printer-friendly format
Printer-friendly format Email this thread to a friend
Printer-friendly format Bookmark this thread
This topic is archived.
Home » Discuss » General Discussion Donate to DU
No Elephants Donating Member (1000+ posts) Send PM | Profile | Ignore Sat May-19-12 04:12 AM
Original message
"run up" A term used to describe the incessant media effort to sell the Iraq War to the U.S. public. Yes, I would say it is accurately applied to the Facebook IPO.

This time, investors were not as gullible.

And, if you think your privacy was a thing of the past before, just wait. The ability of make money by selling user data is considered one of Facebook's biggest assets.

May 18, 2012, 2:13 PM

Facebook IPO: Response From Asset Managers: Its a Dud

By Kirsten Grind

Some asset managers responded to Facebooks somewhat underwhelming debut Friday with disappointment following a historic run-up to the offering.

Michael Mullaney, vice president and chief investment officer for Boston-based Fiduciary Trust said his firm has $9.5 billion in assets under management, and primarily represents high net worth individuals. A handful of clients are interested in buying Facebook shares, including one who said he would buy in at any price. Mullaney opted not to put in an allocation order, and instead bought shares on the open market on Friday.

If we did get one it would have been a small piece, said Mullaney. And then who would we give it to? Which one of our clients gets the shares? Id rather trade it on the open market with every Tom, Dick and Harry. It makes my life easier.

On Friday at 1 p.m., Mullaney said in an email that he had received his shares at the price he liked, but considered the IPO a dud. /

Supposedly, Bono's relatively small stake in the company make him three quarters of a billion dollars richer yesterday. A lot easier than touring.

Printer Friendly | Permalink |  | Top
Leopolds Ghost Donating Member (1000+ posts) Send PM | Profile | Ignore Sat May-19-12 08:57 AM
Response to Original message
1. I'm getting sick of hearing about Facebook, I am not a fan, so I'm happy to hear this
I have a Facebook account simply to keep track of the "friends" I have who insist on only staying in touch through Facebook, but I don't use it -- and neither do they (to stay in touch with me, that is).

It's a great event planner, though. Simply because so many social networkers (a polite term for social climbers) use it -- and we are living in an era when nopony attends events unless they get approval via recommendation on their friends' blogs that they follow.

In the 1950s they called this the era of the "Man in the Grey Flannel Suit".

I call it the era of the "Gray Flannel Turtleneck".
Printer Friendly | Permalink |  | Top
DU AdBot (1000+ posts) Click to send private message to this author Click to view 
this author's profile Click to add 
this author to your buddy list Click to add 
this author to your Ignore list Tue Sep 26th 2017, 11:43 AM
Response to Original message
Advertisements [?]

Home » Discuss » General Discussion Donate to DU

Powered by DCForum+ Version 1.1 Copyright 1997-2002
Software has been extensively modified by the DU administrators

Important Notices: By participating on this discussion board, visitors agree to abide by the rules outlined on our Rules page. Messages posted on the Democratic Underground Discussion Forums are the opinions of the individuals who post them, and do not necessarily represent the opinions of Democratic Underground, LLC.

Home  |  Discussion Forums  |  Journals |  Store  |  Donate

About DU  |  Contact Us  |  Privacy Policy

Got a message for Democratic Underground? Click here to send us a message.

© 2001 - 2011 Democratic Underground, LLC