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I am a middle-aged man, but in the years I have lived, I have at least amassed enough wisdom to know intuitively that I am still naive. We're always learning and, hopefully, getting wiser, so in an absolute sense, I'll die a naive man.
But I'm not as dim as I was as a teenaged-Tim, so allow me to start this essay with a couple of background facts.
This Coca-Cola commercial for this Sunday's Super Bowl game reminds me of the markets…
…as the bulls (secretly disguised as one thirsty NY bear) pushed the markets higher from their 2011 lows, while nearly fumbling and losing control of the ball several times, to score yet another higher weekly close.
I am already looking forward to about a week after the Facebook IPO. The onslaught of press at the time of the IPO is going to be stomach-churning. If you're not sick of Zuckerberg's face already, by God, you will be by then. So once they are public, give it about a week, and we can all get back to our lives.
It will also stamp out all this horniness for tech stocks that's running rampant. This Valley has gone into bubble-mode again, and it's hard to take.
Zuck lives three blocks from my house, and the only benefit I'm personally going to get out of the thousands of newly-minted zillionaires is that the value of my house will go up. Indeed, I just took this photo of an advertisement in my local paper showing what Palo Alto home prices have been doing lately (the most recent year is in black; the year prior is in orange).
So asset appreciation of something I actually own is something I can "Like."