Facebook and Sipping from the Earnings Fire Hydrant

It appears the long-awaited Facebook IPO is nearing the Wall Street docks, with Morgan Stanley and Goldman Sachs (surprised Goldie is not lead, with their large earlier investment) being the underwriters.

Yesterday I saw or heard at least six different opinions on the Facebook IPO most of which were positive. At this time, given the lack of information that has been officially released, it is impossible to formulate an accurate opinion. It is difficult to pick the team that will win the big game, especially not having any idea who are the players. Our position is casual observers during this process, however we are always interested.

Today we have 29 companies from the S&P 500 reporting which is similar to taking a sip of water from a fire hydrant.  Most earnings have been ok, but not terrific, again setting the bar relatively low, in our opinion.

Donald is in town tomorrow for a group of expert forecasts for economic and capital market related events sponsored by the local CFA association. We will bring you the cliff note edition of facts, should they prove interesting.

Back to work as conference calls beckon.

Have a Super Day !




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