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That's up FaceBook shares they are down roughly 16%.
From the 38 dollar IPO -- is set to buy it now.
Well our next -- actually much shares yesterday and not because it's good value than that joining us now some inside and -- played FaceBook -- MacKey president of Matt yeah asset management.
Are you claim to fame we've been pumping this for the last -- you mop FaceBook that's awesome I appreciate that and it's -- what do we -- a little bit and I I don't know lower third eye on -- video -- -- yeah.
Thirty don't have that -- are making money and it's not there -- some.
It's a trade it's that trade carry trade this is not a buy and hold you -- that's not the -- networking media stocks.
Zynga -- the entire it -- -- -- basket of stocks if our have to hold them for two years -- -- -- a basket -- nothing.
Absolutely zero are rather -- air.
Because they're -- they're not great businesses FaceBook though is a trade tonight straight world and it's -- mentioned Zynga.
No dummy what was your thoughts on Zynga they're horribly talk about the FaceBook IPO these are sub teams to FaceBook how they -- a secondary offering -- sort of lost in the news here connect twelve dollars a share they raised 600 million dollars this is an April.
The stocks at six now but how much money went into the company about 600 million.
But yes absolutely zero everyone cash on the left it to the shareholders were down a lot a lot but I -- -- basically doubled to get the money back.
These are great companies insiders are cashing out why would want to buy.
You've treated about that earlier this morning actually but let's but what about the whole space then I mean -- -- then it becomes deja -- of the late nineties.
I you know stock tech stocks out there wouldn't don't know revenues.
Debts -- treated during the late ninety's this is not the late ninety's but.
There is a lot about optimism -- everyone's kind of circle around this whole -- -- would make money for his aggregate enough consumers there.
How do we make some money and someone's gonna figure out it's just not gonna be -- -- It might be faced orders aren't going to be Yelp a lot of these companies -- just buzzing around the space no -- put it together just yet how to monetize these folks.
But whoever does is going to be a huge and that's why you see this mean look at Amazon.com yeah ridiculed for years that stock's been tremendous for ten years.
You think FaceBook should apologize yes that's that what I've got to.
At three -- plan to make my shares or something.
Actually that could happen any moment.
It affects the company with us -- They had the second up and apologized they -- -- this is what happens when get lawyers involved in the situation and guarantee the lawyers -- just don't say we're gonna say a word now.
Man up and apologize you hurt a lot of your biggest fans the Muppets the people -- went out parents and our gonna buy the shares at any price but they got burned apologized and second is just grow up.
It's part of the same thing you know it's a personal maturation process and the equity is adorable.
If your stock has doubled when you start -- -- billions of dollars it's time to lose the -- grow up like a big boy this is big boy time.
And finally it did this way to monetize about the plan tells you on here -- are selling things -- -- are a joke ads are absolutely terrible.
And if I don't hear of someone likes of Ford Fiesta someone -- -- in high school wants to drive Ford Fiesta.
That matters to me why right precisely why does that matter to me but if -- -- -- music.
We're we're seeing in -- signals -- to break -- that's -- -- we are Tracy -- you'd be open to the idea of -- -- -- -- something that yeah somebody and the last quarter century will be awesome I got with a lot of growth and open up my friends recommended it.
Why when FaceBook some his song.
I'm gonna check -- by -- -- song let me ask you this do you think it.
Detracts from getting investors back into this market is -- -- confidence killer or -- we just enact short term that mean this one off yes.
This is humiliating and it it's actually terrible week for Wall Street at the whole thing is that there's I actually tell my kids and I'm a farmer they they don't know I have anything to do applause because -- -- piercing.
-- -- know it every every fear every every idea that maybe the bankers were kind of ripping people off everyday guys they are.
And this is how they did -- they disseminate information -- selectively stood.
You know that this -- all that business and cost people real people a lot of money didn't -- -- I want everybody to abolish Zuckerberg can go first.
And I want diamond I I want the whole gang.
Just to say they're sorry and that it cannot own up to this whole thing the government -- -- catch Jeff Flock Jeff Flock Jeff -- we're gonna tell faced up to do an App Store that way we can sell they've -- -- -- I am so I'll sell.
How old the mine now phasing loves you it's looking tainted love was my favorite -- classic com.
-- agreement all right.
A farmer Mac -- thank you so much for joining us parent and I back.
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