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What -- on the FaceBook fiasco -- settlement CEO -- financial services joins us now.
Hey Ricky not everyone -- point fingers it's you know like he'll comic strips and we -- kids that he did it she dated who knows who did it at this point.
At the end of the day isn't investing in the stock market a little buyer be -- and you have to take your risks.
Very much so are you pays your money it takes your chances.
So do we even have -- you know any kind of -- under any kind of stance on anything why -- accurate Guinness FaceBook IPO it backs that up kind of mile off.
Now nobody put a gun to anybody's -- nobody forced you to buy it and nobody promised that he'd be able to buy it even if you wanted to buy it.
This is the way it works it's capitalism limited supply lots of demand.
This kind of stuff is gonna happen get over grow up.
That it's it's a fair point at the same time something happens within IPO the frenzy of it it's just.
It's almost like a you know a little -- anticipating Christmas they just cannot wait to become a part of it.
And as we mentioned earlier history is kind of shown that little people like me another traders other investors out there we can't play -- that IPO market can we.
And -- and you know every little kid -- asked for a pony and didn't get one -- learned how to deal with disappointment.
So you can't always have we wants and frank frankly you don't always want what it is you want if you didn't get -- on the IPO maybe you should consider yourself lucky.
It's an interesting point right there was probably a lot of people calling their financial advisors that morning saying.
You have to get me in only two at the -- today realize there advisor advise them properly by saying stay the heck away from this.
Absolutely right remember investing isn't about.
Getting in on some hot get rich quick scheme hoping you're gonna make a quick -- It's about long term investing extensive diversification.
-- seeking to achieve your goals saving for college and retirement.
Not trying to get on the latest high fat because -- -- eleven year old kid thinks it's a hot idea.
That maybe my view was again -- clinical other advisors and thank them for keeping them out of that on Friday we thing about you know the tech stocks in general these days are you advising your clients play in this little tech world right now.
We don't like the word play when it comes to investing as you know because that's when bad things happen I think that you need to maintain a broad diversification.
And recognize the -- tech stocks are among the most volatile global securities look what happened in the tech market blow up of ten years ago.
And I would hope that by now people -- learn their lesson.
What is it though you know people.
Are on the sidelines still volume is in -- make it's probably the new norm though the -- we trade these days.
What is it gonna take to get people off their hands and get their money back in the market.
It's going to take confidence.
That the world isn't coming to a man that the mayans are wrong in the world isn't coming to -- -- And eventually over time people begin to realize that and they're gonna wish they had invested back in 2012.
And that but it you know it kind of seemed like the mines were run on the markets on Friday right so.
Exactly the case then I and some -- uneasy about getting back involved in the and they see -- -- like this -- wary now.
My friend made a trade in the morning and still doesn't have a confirmation of it by the end of the day while.
I according limited to other than the boy scouts of the street.
Well it's real simple don't buy individual stocks and bonds instead buy baskets of them through.
Exchange traded funds or low cost index funds.
And this way you're going to be diversified you're going to be very low cost very low risk but you're still going to enjoy the kinds of returns that the big institutions are able to produce.
Stuck in a -- And that little pony still disappoints me Rick cattlemen Rick cattlemen -- and financial services chairman and CEO thank you sir.
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