Wow! FB price slamdunk has costed a big mboy loads of losses...
UBS Profit Falls 58% on Investment Banking, Facebook LossQuote:UBS AG (UBSN), Switzerland’s biggest bank, said second-quarter profit fell 58 percent, missing analysts’ estimates, as the company’s investment bank lost money on the Facebook (FB) Inc. stock sale.
http://www.bloomberg.com...tment-banking-loss.html
Quote:The equities unit’s revenue was hurt by what UBS called a “gross mishandling of Facebook’s market debut by Nasdaq.” The bank, which entered orders for Facebook shares multiple times because Nasdaq wasn’t confirming them “for several hours,” said it will take legal action against the exchange.
That last quote means only one thing - FB stock is going to tank badly...
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!