It's tough to blame him.
And it's tough for a guy like me to organize the activities that will occupy my time. On one hand, I need to read stuff like Barron's September cover story that said Facebook (FB) shares were headed to $15. On the other, I can't allow it to influence me, even when I'm cumulatively mind-numbed with similar tripe.
With Facebook, the media turned on the company and its shares in the wake of its IPO. The pile-on began.Then things get crazy. As I outline in my response to Barron's now laughable claim -- "$15 Facebook: Merry Christmas, Baby" -- the dude who wrote the Barron's piece thought he had something. So he did abysmal analysis and, lo and behold, Barron's hauled off and published it. The guy's entire argument centered on Facebook's P/E ratio, relative to companies such as Apple (AAPL) and Google (GOOG), mobile monetization and Facebook's options program. All poorly-constructed, surface-scratch thoughts on why Facebook has no future. Read my Merry Christmas article. I take those arguments down, particularly the mobile and stock-based compensation ones, point by point. There's so much misunderstanding out there over mobile and disruptive growth companies. The mainstream media's involvement in the Facebook story only makes the problem worse. When you limit the discussion to finance and tech guys, you have a relatively small number of people who don't know what they're talking about doing the talking. Throw everybody else into the mix and you have what we have: a larger number of people who don't know what they're talking about doing the talking. But, worse yet, they never took a serious look into the enormity of the mobile transformation. We expect a 6-month-old to walk. And don't think of time in terms of the age of a company. Think of it in terms of mobile uptake, both by the platforms and advertisers.
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