I Knew That Facebook Would Be A Failed IPO

Not that many people asked me, but I felt that the Facebook IPO was a bad idea from the beginning.  Mrs. Beagle can attest to the fact that I was never excited about.  She asked if I thought it would do well.

My answer was clear: No.

After the initial price and number of shares was released the evening prior to the IPO, I had to do a double take.  Not only would this not go well, I thought, but this was a disaster in the making.

Of course, I really didn’t define disaster very well, because after an initial offering price of $38, I thought $25 would be a disastrous level, and of course it has gone well below that, touching below $19 its lowest point so far.   That’s half of it’s IPO value gone.

Here are the reasons I never felt that Facebook was a good buy, and why I still don’t to this day, even at what many would consider ‘depressed’ levels.

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