The long-awaited Facebook IPO (stock symbol FB) has been announced (published in February 2012) , is it time to jump in and make some money on this Tech darling (but the voices in my head say remember Nortel and Yahoo)? I will not be buying in, mostly because I wouldn’t buy a stock directly (I am in my passive investing phase) and while Facebook could be the next Google (symbol: GOOG) it has a chance not to be as well. I will watch with interest to see how the feeding frenzy goes.
It was Groundhog Day yesterday, too, and as usual, the various entrants all made their own predictions, but I can safely predict that Spring will come this year, sometime (and if it doesn’t, we are really in trouble).
It is also a Super Bowl weekend, where non-football lovers get to watch their loved ones turn into raving loonies over 1 game. I will attempt to create my standard chilli and make sure I have enough beer in case the Giants don’t play well. The Super Bowl seems to be an event bigger than Christmas (and with a longer lead-up period too).
Weekly Recap
We washed the all-stars out of Ottawa, this week Winterlude begins, but in terms of posts I am fixated on mass transit it seems:
- This past Sunday we had Raining on All Stars and Sunday’s Best, with the rain, we lost a lot of events for the All Star week.
- It’s Mutual Fund Christmas time (for their managers at least) It’s Mutual Fund Season ! OMG! gotta love it. They want folks to walk in and say, “Just give me what you think is the best”, CHA-CHING!
- As commuting is a big part of my life now I am now the Big Cajun Bus Man.
- There is no Worst Place to get Laid Off, they all suck.
- Back to me taking the bus again, with Bus Pass or Arithmetic Comes to Commuting, which is always fun.
- Random Thoughts: $100 Hot Dog? Seriously? was a recap of the previous week too.
And thanks to those who added me on Twitter I am now over 1000 folks who follow me, zut alors! Check out my Facebook page as well (but no I won’t be buying Facebook stock because of this either).
Links for the Week
Facebook’s IPO was big in the news, but RIM is still out there bubbling up, and TAX TIME is even more important too:
- Gail Vaz-Oxlade points out we shouldn’t forget Sunk Costs, it may not be as sunk as we thought!
- Tom at Canadian Finance Blog gives those of us with home businesses some tips with Tax Time: Deducting Home Business Costs, always good to read these over, in case you missed something.
- Mr. Money Mustache gets a little earthy in his description of Mr. Mustache’s Biggest Mistake (a little NSFW on some of the words, but well worth reading).
- Larry MacDonald wonders in print what is going at RIM that would cause Mike Lazaridis to Buy more RIM stock?
- Michael James points out the dangers of Tax reforms with Tax Fairness would decimate Old Age Security, for those of you thinking of retirement.
- Echo of Boomer and Echo tries to explain to us How to Set Up a DRIP, no not the faucet, the investing idea.
- Sustainable PF has an article by Miranda about Preparing to File Your Taxes in Canada, and yes this is that time of the year.
- Miranda at Planting Money Seeds, asks for a home business Do You Need Disability Insurance? Depends on how much you rely on that income, I guess.
- Preet gives us a piece of Breaking News: Major Changes in the Mortgage Industry, which could make it a little harder for a lot of folks to get mortgages.
A Quote for Groundhog Day
“There is no way that this winter is *ever* going to end as long as this groundhog keeps seeing his shadow. I don’t see any other way out. He’s got to be stopped. And I have to stop him. ”
Phil Conner from Groundhog Day (played by Bill Murray), yes, I think the groundhog must be STOPPED!!!!
Thanks for the link love BCM!
Second the bearish sentiment on Facebook. When Mr. Market brings me a price that gives it a P/E ratio of ten rather than SEVENTY FIVE, I’ll give it another look. Just like Canadians buying cashflow negative condos to “flip” them for capital gains. When the boom defies common sense, the party eventually ends; the person with the party bag of penny stocks and worthless dog kennels in the sky. This person is the Greater Fool.
Thanks for the mention BCM! Have a great weekend.
I think pension reform must come in some form. But, it won’t be based on tax fairness because that would slash benefits to the bone. Thanks for the mention.