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app instead?
Can the social media company deliver the growth implied by its â¯share price?
29 April 2021 15:32
Image: Gabby Jones/Bloomberg
Facebook is a company with an interesting pedigree. Computer whizkid Mark Zuckerberg created a social media platform that seems to be on everybodyâs device. My 15-year-old son keeps asking me why I use Facebook, I respond to him that I use Facebook because âeverybody is on Facebook!â His response to me is something along the lines of âNo dad, just you boomers are on Facebook!â.
As a business though, Facebook is a phenomenal company, it is a worldwide brand, and it is one of the âFANMAGSâ (Facebook, Amazon, Netflix, Apple, Google) which influence the direction of the tech-heavy NASDAQ index.
Was Q1 only the start of herd mentality in the market?
By Julian Koski, CIO at New Age Alpha
In his 2004 bestseller The Wisdom of Crowds, James Surowiecki famously provides evidence that when acting independently and in their own self-interest, the actions of individual members of a crowd result in an efficient outcome. Following this logic, if investors act independently in their pursuit of excess returns, the market will be efficient. Of course, the title of Surowiecki’s book is a nod to the classic tome by Charles Mackay, Extraordinary Popular Delusions and the Madness of Crowds (emphasis mine). What happens when the individuals in a crowd behave systematically similarly, not independently?