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I wanna go to you first.
You really have skin in the game you're a major investor in a fund that has a lot of shares in FaceBook what went wrong first of all from your perspective.
But I think the environment going into this IPO couldn't have been worse in terms of -- announcer who's doing what tech stocks are doing how soft -- -- -- there was it was a turnaround day but the last month has been but it really rough time for offered launching new IPOs it was.
Unprecedented kind of offering us to size and -- attracts a lot of positives but also an awful lot of detractors going into it largest detractors were looking at data from a standpoint of what's the current multiple what's the valuation.
Little boost -- some deceleration in growth and I think.
Really miss the point -- how -- a phenomenal FaceBook isn't can be.
-- of 900 million of any thing that's an awful lot to work from and that's where FaceBook starting as a public.
About the members -- you get ten dollars from each one of those guys get nine billion barks at tonight's revenue source marina why is it -- that that the bad news on FaceBook.
Didn't bring down the -- -- exactly the opposite the NASDAQ was the best performer today.
I think that -- really is trading on its on merits obviously -- I don't think that.
It's not many of the indices I mean there's really no reason to think that it would be industry leader at this point it's very short lived for a public prayer right.
So I think -- -- -- on its on merits and I think about it cents.
We have to look at how this price on the idea on where it's trading down quite frankly I think the hasn't gotten pretty backdrop I think they priced it pretty well.
Well actually 35 remember was the original price is pretty close to that right now.
But Georgia let me go back to -- -- because -- he is close to closely connected people have a big stake in this are you ticked off at anybody -- -- one party in particular.
That upsets you is having -- position somehow.
Well I mean -- going into this region have an idea what what the thing would be really worse I think that the -- the story on FaceBook is just beginning and there are probably would have been a sadder tale of the thing it's like open to sixty and then came down and and lost a lot of people disappointed.
There's a view of FaceBook from Wall Street -- a view of FaceBook from from Silicon Valley and -- just two different worlds.
We're active in the -- world where were.
An investor an early stage companies.
And you can't find an early stage company now -- wants to -- finance it doesn't have five or six lives and their -- On every financing about their FaceBook strategy is built into the ecosystem.
It's not going away is it's not -- -- but again is there for example your confidence in the NASDAQ Georgia's that lessened by what happened over the past past few days.
Well I think you know today -- mayor bill turnaround but I think you know -- haggard to NASDAQ is trading off of expectations for the US economy for for European economy.
The big cap weighted stocks in NASDAQ pro multinationals saw clearly European recession and and the US has not -- -- -- -- Which has more to date we heard about JPMorgan more news about JPMorgan today they're not going to be buying back their stocks as they plan to do before.
When you look at the aggregate of of these particular companies FaceBook and JPMorgan which has had more of an effect in a negative way in the marketplace -- a whole.
Well I think personally think that I -- FaceBook for my son.
I'm malaria got a lot yeah -- got skin in the game as well on the opening print wife Bonnie would enjoy owning and I'd -- the histories by bottle -- -- on the opening printed 42 and whatever was.
I'm not mad -- anybody by the way so that's a cat but in terms of bankers but I do think that the negatives on its way in which the idea ended up being.
Are handled I think is probably bigger negative and JPMorgan and the reason I say this is not -- was -- Sort of self interested as New York Stock Exchange person but I think in the overall picture.
-- we have an opportunity here to get the retail investor involved and give them a really good experience.
And I think unfortunately that didn't happen.
Well that's that's a great what George did you take the overall long -- -- looking at FaceBook over three years rather in the several months there are a lot of traders from the retail side individual traders watching shows like this that went in that based on enthusiasm in FaceBook.
They feel burned today -- or anything they can do about do you think they'll be gone for good.
I don't think they'll be gone for good I think -- every time they turn their computer on the first phase this is FaceBook.
And we look back in history you know -- is the IPO on Google was a pretty rough one as well.
We're underpriced traded off but but their idea of their Dutch auction was it was a moment time when enough Wall Street did have glory either.
George Cingular marina is Doreen -- -- thank you both appreciate you come -- and.
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