This morning I read an article on CNN with the headline, Seniors clamoring to invest in Facebook IPO.
Of all the silly articles written about Facebooks impending IPO in an effort to draw readers to news websites, this one has to be the lamest. So of course I read the article.
It turns out the articles headline is not lameits completely misleading.
Apparently 79-year old Alvan Sweet told CNN that Facebooks IPO is one of the hottest topics in a retirement community in Boyton Beach, Fla. Its so hot, in fact, that three (yes, three!) of Sweets friends have been badgering Sweet to help them get in on some IPO shares. Sweet, as it turns out, has been investing in IPOs for some time.
But Sweet has no intention of investing in Facebook this week. According to Sweet, recent IPOs like Groupon may rise at first, but then have difficulty maintaining their price. So Sweet aint clamoring for Facebook shares.
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