Beware Of Magical Thinking

Let’s say I have a friend named Ben who possessed seemingly unearthly wisdom together with the emotional fortitude sufficient to resist Facebook’s (FB) IPO hype onslaught back in May 2012. Instead of rushing to buy some of the more than half a billion shares trading on that first day at a price anywhere between $38 - $45 (USD), Ben waited on the sidelines, biding time. And during the next three months, he continued to wait and to watch as Facebook’s market price plummeted....