But that's not the culture of investing the media instill.

Instead, it creates an absurd story. Sells it as reality. And then, when it appears it's about to be proven wrong, the media spits out headlines like this one from Reuters:

Facebook's Mobile Surprise Allays Growth Fears

Yes, just like a $329 iPad mini from Apple, it was a "surprise" only to the minions who passed off stories and "analysis" poisoned by falsehoods and lack of patience as objective fact.

We got it wrong from the get-go. Now, it looks like we'll be proven wrong so we'll just call the whole thing a "surprise."

What a business.

I'm not surprised. Mark Zuckerberg is not surprised. And, happily, neither one of us is caught in a pretty nasty short squeeze this morning.

At the time of publication the author had positions in FB and P.

This article was written by an independent contributor, separate from TheStreet's regular news coverage.
Rocco Pendola is a private investor with nearly 20 years experience in various forms of media, ranging from radio to print. His work has appeared in academic journals as well as dozens of online and offline publications. He uses his broad experience to help inform his coverage of the stock market, primarily in the technology, Internet and new media spaces. He has taken a long-term approach to investing, focusing on dividend-paying stocks, since he opened his first account as a teenager. Pendola, 37, is based in Santa Monica, Calif., where he lives with his wife and child.

If you liked this article you might like

Zuckerberg, Facebook Directors Settle Delaware Suit Over Voting Rights

North Korea's Nuclear Threat Pressures Wall Street at Trading Week's End

LA Times Tops 100,000 in Digital Subscriptions

Stocks Claw Back From Session Lows as Markets Digest North Korea Threat

North Korea Threat Resurfaces to Drag Stock Futures Lower