Tuesday August 22, 2017
What do I have in common with Melanie Phillips? we are Jew haters - the moment the bonkers left admits defeat
The Fascism of the Left: High School Students kicked off College campus for wearing Trump Hat
#TheResistance is laughable #TrumpResign trends on twitter for a few hours - back in the real world look at coal exports

PERSONAL, UNDILUTED VIEWS FROM TOM WINNIFRITH

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Facebook still a sell down to $5 - EPS forecasts will be cut, earnings visibility getting worse

Please share this article with your comrades in revolutionary capitalism

- Tom Winnifrith

Slowly, it is sinking in. Facebook (FB) was floated in May as a growth stock. Forecasts and valuations were based on extrapolating historic trends. But in the new media world, that is impossible. My bear case against Facebook was always that the rating was too high based on historic numbers and that one had to be the metric used given that forecasting was impossible. Rather more quickly than I had expected, recent data is starting to vindicate my stance. I argued here on 28th August that the shares were worth $5, and I stand by that view.

Read the full article on SeekingAlpha | Comments
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