Buying Facebook Stock for $38

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Joseph Pisani, reporting for the AP in the moments before Facebook’s IPO:

[Dennis Hitchings] said that he doesn’t think Facebook is worth $100 billion — “They don’t have the revenue” — but he did say he would buy the stock at $38.

Um, yeah. If you’re able to but the stock at just $38 then you should buy as much as you can. That price will be a distant memory by the time the average Joe is able to invest.

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