From Savitz at Forbes:
Billionaire investor Mark Cuban disclosed at the tail-end of a lengthy blog post about the Facebook IPO that he bought 150,000 Facebook shares in the open market: 50,000 at $33, 50,000 at $31.97 and 50,000 at $32.50.
“It’s a trade, not an investment,” he writes. “Kind of like buying a Mickey Mantle, a Hank Aaron and a Barry Bonds rookie card knowing there is a card show in town next week.”
Cuban offers a variety of observations in the post on the consequences of the rocky debut of the Facebook IPO:
- He contends that individual investors will sour on Wall Street. “Whatever positive impression they had of the IPO market and the stock market in general was just torched to the ground,” he writes....MORE
