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Interest thinking about FaceBook -- -- took a lot of heat over the FaceBook IPO I think someone was warranted some who wasn't.
Shares of FaceBook are now trading about what where they were right up of that they're up to around in the thirties however.
There's an issue with the IPO process where you guys in this historic toll -- which you get it you guys keep certain guidance to institutional investors.
Individual investors didn't get that guidance.
Not -- it's illegal it's clearly legal however should that process he changed.
Not I don't think it should be post 118 should be and that there's a reason for that.
The reason the process was put in place was that individual investors would not be -- -- -- By the latest.
Piece of research that Mike calls in the suddenly -- into the stock quintessentially what -- -- thought was gonna have comprised of many pundits and I before FaceBook thought that's up was going to -- -- to twenty.
Right that's not funny had a going to lady not to twenty.
So actually the rule put in place and I guess embassy is CC was designed to protect individual investors question for -- -- Would individual and -- have acted differently.
In buying FaceBook comment today if they knew -- one analyst had changed his assessment of the next is revenues by I think it was 5%.
Maybe I mean I'm just saying that if he gave them the guidance -- you know if you -- the same guidance.
Wouldn't it just seemed like it was unfair that -- that the individuals could not get the same guidance in some way if I'm not saying he had to like.
You know -- mass meetings with within the -- of us -- you have the biggest brokerage sales were so -- -- out of it could have had every broker tell the client.
Here's what we hear right now.
What would -- so bad about that.
Puts it which it solved and it's so bad it's just we've fallen girls that's what is -- a red light because as a -- that -- maybe there remedy cows come we should just -- through it okay I I know you're good guy but have a doing the right thing.
You don't think that story can always quick to.
What do you mean we don't do the -- analysis I would continue to write web saying the right thing would have been to give everybody the same that they essentially the same information when it I disagree with.
It for this -- and let's assume a lot of -- -- had decided not to go into the stock.
On account of that -- -- to devise a one of seventeen analysts so whatever.
And the stock went up right how does that doing the right thing by helping the miss out on an opportunity they could have gone either way.
Put a -- out of the -- neither the devil's advocate of the double -- -- -- tonight and I appreciate the point com.
We did what we we we followed what it's obviously industry practice and right lied.
I previously happened think it's wise practice -- I think it's more often that I get on the reverse direction.
You get a little bit of pop free and some of these reports and all the sudden everybody's buying into the stock.
So I I thought it was prudent OK and I -- question value in getting the under the hook here is that you and -- right filled.
Little love -- ahead of the NASDAQ who -- and I guess you could safely say the NASDAQ -- the FTO would have to and technological problems have you guys made up.
Well we never fill out we had a we had a discussion.
That I would love trivia that -- we had a discussion and we moved on.
Front -- don't it's a big world I'm at what what I care about.
Is that Facebook's come back.
And a company that is.
At the innocence of American innovation.
Sixty billion dollar company got created -- -- not right.
That's back that's what Matt and I tell you what's great about -- -- people forget is that Wall Street firms like Morgan Stanley create those company that's front which is a good thing that's right.
And we -- on that.
Back to you well.
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