Sell, Mortimer, Sell!

That joke might have worked with Lamar Odom.

Uhhh, $5 billion? The article's author may want to check his math again...

I'm just a multi-thousandaire, but I knew to stay the hell away from Facebook at $38 a share.

But he's right. If you're a multibillionaire, $5M is play money.

I can't imagine how in the hell he had fun with it, but maybe that's why he's rich and I'm not.

The headline says 5 billion, but the article (correctly) says 5 million. I guess you just can't make a headline with only megabuck realities, so they upgraded to gigabuck hype!

RumsfeldsReplacement: Uhhh, $5 billion? The article's author may want to check his math again...

It's corrected down the page.

In some european countries, instead of "thousands, millions, billions" the progression is "thousands, millions, milliardes, billions" so a French Billion is a US Trillion. That might have been the source of some confusion.



But it's usually safer to bet on human stupidity.

And yet he will be reluctant to invest 50K on some poor inventer with a solid idea who just needs capital on "Shark Tank"

I'm confused, how can he sell his shares that soon? I thought to be part of an IPO, you had to hold for at least several months. Has it already been long enough to sell?

SharkTrager: That joke might have worked with Lamar Odom.

Or Erick Dampier, Raef LaFrentz, hell anyone over 6'8 not named Dirk.

Ken VeryBigLiar: SharkTrager: That joke might have worked with Lamar Odom.

Or Erick Dampier, Raef LaFrentz, hell anyone over 6'8 not named Dirk.

Tyson Chandler?

This text is now purple: Ken VeryBigLiar: SharkTrager: That joke might have worked with Lamar Odom.

Or Erick Dampier, Raef LaFrentz, hell anyone over 6'8 not named Dirk.

Tyson Chandler?

Traded for, not signed. For the rotten poo-poo platter of Matt Carroll, Erick Dampier and Eduardo Nájera.

Who's Marc Cuban?

I know who Mark Cuban is, but not Marc.

Silly to unload after a month... What did he assume he was going to do, make some major money on short selling?

Marc Cuban dumps his Facebook stock which gave him a negative return close to that of Vince Carter



What are you talking about, Pyle?

SithLord: Who's Marc Cuban?

I know who Mark Cuban is, but not Marc.

It's "Marc Kuban".

WhackingDay: I'm confused, how can he sell his shares that soon? I thought to be part of an IPO, you had to hold for at least several months. Has it already been long enough to sell?

No. Not on NASDAQ.

Employes are locked up until November.

Vince Carter cost a lot more than $200k, derpmitter

WhackingDay: I'm confused, how can he sell his shares that soon? I thought to be part of an IPO, you had to hold for at least several months. Has it already been long enough to sell?

That sort of restriction usually applies only to pre-IPO shares. It's not an exchange rule; it's usually a conventional clause in the option or share grant (*), and generally has exceptions for certain classes of institutional investors who get to go first when selling.

But Cuban simply bought shares on the open market after the IPO; he can re-sell those in milliseconds if he wants to.

* E.g. back in the go-go web 1.0 days, my webvan (gasp!) options had an unusual lockup rule: we could sell up to 15% of our vested options or shares 3 months after the IPO; 40% after 5 months, and the rest after 6 months. Of course, by the time 5 month rolled around, the IPO was deep under water anyway. Sigh!

suid: WhackingDay: I'm confused, how can he sell his shares that soon? I thought to be part of an IPO, you had to hold for at least several months. Has it already been long enough to sell?

That sort of restriction usually applies only to pre-IPO shares. It's not an exchange rule; it's usually a conventional clause in the option or share grant (*), and generally has exceptions for certain classes of institutional investors who get to go first when selling.

But Cuban simply bought shares on the open market after the IPO; he can re-sell those in milliseconds if he wants to.

* E.g. back in the go-go web 1.0 days, my webvan (gasp!) options had an unusual lockup rule: we could sell up to 15% of our vested options or shares 3 months after the IPO; 40% after 5 months, and the rest after 6 months. Of course, by the time 5 month rolled around, the IPO was deep under water anyway. Sigh!

My buddy worked at Broadcast.com for 5 days before Yahoo! bought them out. His options vested immediately and were converted into Yahoo! shares.

If not for the stupidity of Jerry Yang, neither Cuban or my buddy would have made anything.

SithLord: Who's Marc Cuban?

I know who Mark Cuban is, but not Marc.

Must be a cousin or something.

BowtoMogul: And yet he will be reluctant to invest 50K on some poor inventer with a solid idea who just needs capital on "Shark Tank"

I want to go on shark tank so when he says no to my business I can say "no no, you're right, this isn't facebook".

KellyX: Silly to unload after a month... What did he assume he was going to do, make some major money on short selling?

Did you even read the article?

Facebook increased the number of shares available prior to the IPO. He expected Facebook to release too few shares on purpose so the value would skyrocket like LinkedIn did. He planned on selling off a day or two after the IPO at double or triple the price.

mcreadyblue: WhackingDay: I'm confused, how can he sell his shares that soon? I thought to be part of an IPO, you had to hold for at least several months. Has it already been long enough to sell?

No. Not on NASDAQ.

Employes are locked up until November.

Then how did Zuck among others sell shares already?