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Varney: Don’t Kill the Facebook Buzz

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  • Description

    FBN’s Stuart Varney says Facebook is the stock that will bring investors back to Wall Street.

  • Duration 4:18
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The great Stuart Varney has entered our studio and he is here alive with updated -- to -- with the -- -- in coking -- is there is -- about in.

Dairy fired up about FaceBook which he knows next to nothing about that's true who's not even on FaceBook.

You know but he couldn't be more excited about this IPO look I am -- of time ahead of so -- -- bullets killing the buzz about FaceBook.

I don't cat with a -- can monetize 900 million uses I don't care about the price earnings ratio was gonna come to the stock.

-- -- is if you go outside alma street now you ask anybody.

One is of interest to them in the stock market they would say FaceBook you rolled out the window of the car service on the Whitewater FaceBook has bullets yes -- -- -- Kill it don't mess around with my guess -- a secondary market an -- don't do that.

Everybody in the studio is interested in FaceBook the wrong side of the opportunity to -- I want in -- now whereas if you with a ten foot pole.

This is the -- that will bring investors back.

To Wall Street they've been leaving it for a decade.

This is the opportunity to bring Americans back to American capitalism for God's sake don't kill the -- I you know what got senator Chuck Schumer and Bob Casey you -- haven't alone.

Name Greenwood press later today they're gonna try and figure out a way to prevent polite Ed waters have ran with general renounces citizenship and this do you want to live in Singapore between a bigger -- Butler -- one of the kind of -- It's -- up so they're gonna figure out a way to prevent that from happening to they -- they ought to be worry is you know if they're gonna start hiking taxes on the wealthy here.

Just as off fronts walk along the plans that people who make money will leave this country -- ought to be worried about it.

It would have such issue Obama.

Who's all in -- -- -- leave of raising the tax on the dividends and interest right dividends and interest and don't capital gains.

And -- objects.

When somebody leaves the country to avoid these higher taxes on capital gains which he will impose what does he think will happen to America's economy and the investment economy.

If you put the capital gains tax rate up as he and President Obama wished to do come January the for us what's what's good over the impact on the investing public.

But here you have Americans dying to get into this big new.

Internet company that's why but sexy at incredibly successful and all America and -- -- say here's the thing they'll lower but million.

But the FBI and then you come -- don't you see it don't use CN yelling at us yes we like FaceBook or -- -- -- active -- The member of the Google IPO you know Google exits are searching the Internet -- and I think I think.

This is going and I agree with you I'm not -- argue with -- for the sake arguing I agree with you I think it there.

I think that if there's excitement even if if I found one stock.

That is a good thing -- -- hundred billion dollars -- US stock funds every year in recent years sickle -- are born out and anyone.

And.

Any one week I was wondering if Barney was gonna ask mr.

-- if he's concerned about some of the insiders.

Who was when Google went public and Google's that -- search the Internet.

Google went public many years ago not as many of the insiders sold off when it went public this time around with FaceBook a lot of the insiders.

Or more of them are cashing in.

Do you -- well -- if they know something we don't and are you worried about that or would you -- if I were to take a professional approach to FaceBook right yes I would be.

-- be considering the fact that insiders have sold off heavily but more have sold from the inside consult with Google -- quite right.

But if I was a professional investor yet I would be concerned about that.

But I would be concerned about how do you make money how do you make revenue from 900 million you think the excitement will override that gets -- I think it will override that yes.

And people stopping industry concentrate went -- FaceBook should I get -- diuretics the next.

Apple is at the Google that's what they want and out I don't wanna kill -- boats make historic drubbing this stuff regularly coming.

Barney Zulu -- Calvin Stewart is that this is -- many -- news show.

No -- scalp but I couldn't do check out data -- -- FaceBook will be right back and we'll be right back.

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