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November 13, 2013.Today, the price/earnings ratio for Facebook is 118 to 1. This means sheep are currently paying $118 for every $1 that facebook earns. So a sheep who invests $118 in facebook, will need to wait 118 years to get it’s money back. If you were to buy a small business, say a convenience store, would you pay a price that was so high that it would take you 118 years to actually own it and be in the clear?
And what if a better, discount convenience store opened up down the block? What if you realized that the person you bought the store from was actually overcharging because of negligible competition, but now there is competition and you have to lower your prices? And after you lower your prices you realize it will now take maybe 200 years to be in the clear?
That is the stupidity involved with facebook share prices right now. But it will change of course. And once the smarter sheep realize this, they will sell their stock. Then the other sheep will follow, because that’s what sheep do.
Imagine a blimp circling overhead, being held up by helium. Someone shoots a bullet through it and the helium starts to leak out. But it’s a small hole, and the blimp is big, and they have some emergency compressed helium they can use to keep it inflated. So it is not really a problem for now. But more people start taking shots at it and soon it has lots of holes. It is then obvious that it is impossible for it to stay in the air, and that it must come down. That is where facebook share prices are now.
The crying from the facebook sheep will become so loud that other sheep holding other inflated stocks will begin to sell their stocks too, and a crash will ensue. Yes, facebook might be the big news event, which sets off the big crash.
Steve you had your shot. Oct 21 has come and gone “no crash” try a different hobby.
B.S…..go long and your can never be wrong…..the market goes UP UP UP UP and then UP UP UP UP everyday….
If I had a million bucks I would buy the S&P Monday morning and double my money by Tuesday close!!!!
Hamilton