LinkedIn had an IPO today. They were initially priced at $45 per share and you can see where they are trading now. Their current market cap of just under $10B puts them in the same territory as Goodrich, ConAgra, Nordstrom, and Whole Foods, giant, mature companies with giant factories and stores all over the world, companies with obvious revenue streams and growth plans and assets both physical and informational.
Seriously. The Market thinks Linked Freaking In is worth $10B.
I always want to be careful talking about the markets. I work for an SEC-registered broker dealer, so it’s partly a legal thing, and I’m a technologist anyway, not a trader or a researcher with great insights. I’m not an expert and I don’t pretend to be. You could probably make a fair living just taking the other side of my personal trades.
But you’re my friends and it’s just us cats chatting here, one on one, over coffee at lunch. So let me ask you if you remember the last dot-com boom/bubble. And I will ask you if you remember thinking, when it was over, something like, “dammit, I should have sold sooner!” Or if you didn’t participate, if you looked back and thought something like “dammit, even a monkey could have made money in this kind of market!” If you’re a very skilled investor, maybe you thought, “boy, I should have shorted that thing near the top.”
Did you think any of those things? Upon reflection, did or do you wish for another such opportunity to come by in your lifetime? Did you swear that if it did, you were going to act this time?