Any of you buy into FacePlant ™?

I just happened across a comment that it is now trading down below twenty having IPO’ed at 40 odds. No wonder so many execs are getting trampled in the stampede out the door.

I can think of more fun ways to lose half my money.

GB comes to mind…

I spent a lot of my money on booze, birds and fast cars – the rest I just squandered.
George Best

I also read about the Knight destructacon algo disaster, potentially driving them titsup. I am sure this was a ‘proper’  HFT algo tech, not some Excel/VBA monster. But the effect seems pretty similar (Google Dr Evil spreadsheet). Please, please, please let the Knight rider ‘system’ be called KITT.

In a similar vein I also spotted that UBS are suing NASDAQ for their part in the FacePalm debacle. (Or FaceBerg as it is now known). Presumably they ended up owning too many of these citrus shares.

So its been a good few weeks for crap systems, no national spreadsheet horror stories though (Unless you include the Olympic ticketing/empty seat fiasco, which we were told last year was spreadsheet based).

What little spreadsheeting I have been doing recently has been Gnumeric, I can’t remember the last time I fired up Excel (or Windows in fairness).

I am still resisting the pressure to participate in Facebilk, I think they will probably rename it to facespace as people leave in droves, and evidence emerges of millions  of fake accounts. Too old for faceache, too young for linked in, what should I do?

On the investment front I guess you could always try to recoup your FB losses with MS shares ready for the Win8 effect? (buying puts of course ;-)).

cheers

simon

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