This was just too good to pass up. The internet is filled with articles chronicling UBS' misguided Facebook play. See, e.g., Mark Scott, UBS Profit Falls on Facebook Loss (NYT Deal%k 7/31/12), here. I am sure other banks and heavy hitters suffered the same fate (just as others on the other side achieved a windfall). Just a couple of questions. Does this mega-loss have anything to do with greed? Does anyone feel sorry for UBS? UBS does, of course, blame someone else (Nasdaq) for at least some of its Facebook woes.
Tuesday, July 31, 2012
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I wouldn't call it "greed." People and institutions buy stocks with the expectation of making a profit. Stocks are riskier than treasury bills; and you can have big profits or big losses.
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