Facebook's Flop: Why Stock's Early Slump May Not Matter

A year ago tomorrow, Facebook went public. It was one of the most breathlessly anticipated public offerings in history. 

Tim is mocking Will Hutton and Richard Murphy for having a selective attitude towards the ability of stock markets to predict the economy. This raises an interesting and often overlooked possibility - that it’s possible for stock markets to be rational and yet very often wrong.

Many firms are reaching the end of the tether and we’re going to see an accelerated pace of acquisitions or firms just turning out the lights Canada’s small brokerage firms will be forced to shut down or combine if the country’s lacklustre capital markets don’t improve, said Ian Russell, chief executive officer of the Investment Industry Association of Canada.

Now that Washington has talked American investors down from the fiscal cliff, what will be the market's next obsession? And how might people invest for a new normal where tax rates have been decided, but everything from worldwide growth to the fate of Europe's economy remains in flux?

Walmart customers across the country are complaining that they can't find the products they want, and that could lead to dangerous consequences for the retailer. 

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The NBA fined veteran Oklahoma City Thunder guard Derek Fisher $5,000 for this flop in Game 5 of the Houston series.