I have been thinking a lot this morning, especially of how I believe Facebook ("FB") is overvalued and wish I could short it. Like many have mentioned there are not many ways to short FB right now.
I really don't want to make money out of the short but much rather just prove a point... we are in a bubble and were tired of all the hype.
There are many unsophisticated retail investors (i.e. 401K, pensioners, grandparents and parents) lining up to buy the FB stock, these investors are likely to get burned in the long run. I personally can't stand it anymore.
It disappoints me that although I haven't used my FB account in over a year, they still count my username in their number of users in the prospectus and hold a lot of my personal information and pictures.
So I have figured a way to truly short the FB stock, I will cancel my Facebook profile today as an act of solidarity to all those that will stand to loose money through the exuberance involved in today's modern tulip bubble...
I have posted this in hopes that those who feel the same way as I do will take the same action and once and for all short this time consuming obsession by closing down their profiles.
That is all,