Courtesy of Lee Adler of the Wall Street Examiner
When you lose the lottery, you can’t blame anyone but yourself for taking a sucker’s bet.
That’s not stopping those that took a Facebook flyer from blasting others for their own gamble. With shares off 16% from the initial price of $38, they’re saying it’s Nasdaq’s fault for botching the offering. They say it’s unfair that analysts at Morgan Stanley and Goldman Sachs cut their earnings estimates but only told big clients about it.
Those issues are clearly significant. And regulators need to get to the bottom of what happened. But investors can’t claim they they were not warned about other potential pitfalls – which were well-telegraphed, and well-reported.
via Facebook Investors that lost money in IPO deserve no sympathy – Overheard – WSJ.
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