Facebook sheds $25 billion in market capialization
The news today had an article about Facebook having lost $25 billion in capitalization since it’s IPO recently. To put this in perspective, according to http://www.photius.com/rankings/economy/budget_expenditures_2012_0.html this would be enough to fund the entire national Government budget of all but 65 governments for one year. You may ask what this has to do with Buddhism? The earning of a sufficient income to support yourself, and you family, plus do good works for others is encouraged. The lead underwriter for Facebook’s IPO Morgan Stanleys total share value is less then this amount. This is more than a simple error, somewhere greed became the motivating factor. I am not going to point fingers at anyone, will let the courts determine what happened. Rather, if you invest, following the same principles as Buddha advised us to apply to our lives, you would not be one of those who have been part of this. He advised us to test everything before we apply our efforts to it. Buying a company at 100 times its earning means if things don’t change, it will be 100 years before you receive your money back from earnings. Apple would have only required 14 years when it was first listed. A bank account paying 1% per year would return your investment quicker. The moral behind this post, if you follow Buddha’s guidance in your life, you might invest in the market, but wouldn’t gamble a century to get your money back. If we are greedy, we made find our selves the victim of another’s greed. I express my compassion to those who suffered, however if there is a call for public money to bail out the investment community, I will oppose it, for it would be the same as an unsuccessful thief, telling the police to take money form passers by, because he didn’t get enough trying to steal from his victim.