God bless RadioShack. It’s been a wonderful short.<\/p>\n
The Facebook saga continues. <\/strong><\/span>My friend got 2,000 shares in Facebook. He’s with Merill Lynch. I got 50, though I had asked for 10,000. I’m with Fidelity. Another reason not<\/strong> to love Fidelity — the previous one when they failed to disclose a 5.75% fee on a mutual fund I bought, and refused to reverse the deal.<\/p>\n I also have an account with Goldman Sachs but they told me\u00a0 eons ago that if I didn’t give them zillions of dollars in commission income (fund management fees don’t count),<\/strong> I’ll never receive a single share in any IPO. They’ve kept their word.<\/p>\n There is talk of Facebook opening up $8 or which would value the company at a totally absurd $126 billion. In coming days Facebook will fall — I’m guessing to below $38. In which case if you don’t sell your allocation or buy in the aftermarket, you will lose money. Cramer points out that the last ten Internet IPO has lost their investors money.<\/p>\n Facebook underwriters, including Merrill Lynch, will split $176 million in fees for their hard work in selling the Facebook shares.<\/p>\n JPMorgan continues it cockroach persona. <\/strong><\/span>From BusinessInsider<\/em> this morning:<\/p>\n A bombshell report from the Wall Street Journal says Jamie Dimon personally approved the concept behind the disastrous trades that cost JP Morgan $3 billion and counting. Dimon however did not monitor how they were executed. Meanwhile, the bank’s CIO at the center of the trading loss has built up $100 billion of risky bonds.<\/p>\n The $2 billion <\/strong>trading loss is turning into a $5 billion <\/strong>trading loss, according to the Journal. Read the entire Wall Street Journal’s report here.<\/strong><\/a><\/p>\n Is\u00a0 RIMM doomed and going even lower?<\/strong><\/span> From a report by Craig Johnston\u00a0 who just visited BlackBerry World 2012:<\/em><\/p>\n BlackBerry World 2012<\/strong> By now it has been five years since the iPhone and four years since the Android Smartphones, and RIM’s BlackBerry brand still runs on underpowered hardware and an ancient operating system. Google, Palm, Microsoft and even Nokia have already addressed the issue by throwing away their old operating systems and ideas on Smartphones and adopted a brand new technology. RIM is yet to make this move even though everyone has been telling them to do it for five years.<\/p>\n For the entire\u00a0 report on Research in Motion, click here.<\/strong><\/a><\/p>\n
\nPreviously called Wireless Enterprise Symposium (WES), BlackBerry World 2012 needed to be a conference where RIM showed the world that it FINALLY meant business in the Smartphone and Tablet space.<\/p>\n
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