05/18/2012 08:18 am ET

So You Think You're In Love With Facebook Stock

In the finance industry, where the footnotes are almost always more important than the body of the text, the most under-footnoted sentence ever is this one: “People should invest in what they know.” It is a crowd-pleasing and straightforward bit of prose, so what’s the problem? Plenty, and let’s use this week’s epochal Facebook initial public offering to explain why.

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