Tag Archives: FB

9:30am (Eastern) Was THE Time To ‘Buy’ Post Brexit ‘Leave’ Vote. SMILE.

by Anura Guruge


Chart for “Salesforce.com” (CRM), on June 24, 2016 — day after Brexit. From “marketwatch.com” of course — who else? Click to ENLARGE and marvel.

I stayed up till 1:30am (Eastern) watching the Referendum results, LIVE, on BBC 1 on my Roku, “UK TV” channel. [To my disappointment BBC election coverage came across as primitive compared to what we have got used to in the U.S.!]

I was surprised by the result and I really do have genuine, mixed feelings. I am not wildly euphoric that we voted, in a non-binding referendum, to LEAVE — though, deep, deep down, my sentiments are with LEAVE, which is how I voted, 41 years ago in the 1st Referendum.

I don’t believe that this is a done deal and a lot of water will flow under the collectives bridges of the EU before we see anything definitive 2.5 years, minimum, from now.

That the markets reacted the way they did was hilarious to I. It is crazy. Why sell stock today? What has changed?

But I was glad. I had been waiting, biding my time, for a pullback of this magnitude. SMILE. That is what clever investing is all about.

Was on Fidelity at 9:30am. I had NOT factored in that Fidelity would be slow! I should have remembered from past days like this. But it wasn’t too bad.

I wanted to buy more “salesforce.com” (CRM) and “Facebook” (FB) shares — some for the kids. Got it done. I was all done by 9:35am.

Why would AMZN go down $20 in the day? How will Brexit impact AMZN? I don’t think it will. Strangely AMZN options, my bread-and-butter, were not cooperating. Shame. But that is OK. I am not greedy, never was.

More on my feelings on Brexit in another post.

But for now, SMILE. SMILE. SMILE.

P.S., If Scotland AGAIN tries to break away I will be beyond bummed. 

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by Anura Guruge

Did YOU Know That ‘They’ Now Have IPO Allocation FLIPPING Restrictions?

Anura Guruge, June 8, 2013.

Anura Guruge

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I used to be an IPO junkie. The very first stock that I ever bought was an IPO of sorts, dear Margaret Thatcher’sBritish Telecom‘ (BT) privatization lottery. I got an allocation, and unlike others, I, as ever, played by the rules, and only submitted one entry. I was hooked. BT, to start with, did extremely well. I then participated in every other ‘British’ privatization IPO: BP, BA, BAA etc. etc. To say I was right in the thick of the ‘dot.com’ mania would be an understatement. It was my life. I consulted for so many of the major players. I was at the Wellfleet office in Burlington the day they went public – though I can’t remember whether they gave me an allocation! I do remember with great fondness that CrossComm, a company that I spent a lot of time with, did put me on their ‘friends & family‘ list and as such I did get an allocation. I am sure I made money on that.

I took part in IPOs by rote. It was the thing to do. Yes, of course, I got burned. But, it was fun. Part of the dot.com mania.

Given that I have been with them since about 1989, though I am but a very small minnow when it comes to assets owned, Fidelity does allow me to bid on IPO allocations. Since I tend to be ‘long’ (though my son the investment whiz of 2013 is trying to cure me of that bad habit) I usually don’t bid for IPOs since I don’t have ‘cash’ lying around.

In 2008 I did bid for VISA (V) and was amazed and jumping for joy when I got an allocation. That and the ‘Bear Stearns‘ stock I bought the day they went BUST ensured that 2008 wasn’t as painful as it was for others.

Recently I haven’t been that fortunate and I had stopped asking. I asked for VMWare and LinkedIn and was overlooked. I didn’t bother with FaceBook (FB). Instead, just for fun, I bought 5 shares, on the IPO day for “free” (i.e., using money from an options call) just to say that I had participated in the IPO of the ‘year’. Yes, those 5 shares are NOW making money after a year.

Until now I have never encountered restrictions on selling IPO shares.

Flipping IPOs at the pop was what you were supposed to do. That how you made the ‘BIG’ bucks.

Last week after I sold the last of my Apple (APPL) stock I looked at the IPO market as a ‘good’ place to invest some of that hard fought capital. Bid on two, got one: ClubCorp Holdings (MYCC).

But, it came with a NO FLIPPING warning from Fidelity. Stopped me in my tracks. Seemed so UnAmerican. You can’t flip IPO shares? What next? You are going to be forced to buy healthcare insurance?

I called. As ever they are very, very nice and helpful. Appears that other brokerages do the same thing too; i.e., protect the major shareholder SELLERS by preventing new owners from dumping their shares.

So here is the Fidelity rules on it. Yes, you can sell BUT then you incur their wrath with a penalty. So, as of now I am going to think twice about asking for IPOs.

Click to ENLARGE.

Click to ENLARGE.