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Local Investment Firms Busy With Facebook IPO

Facebook's IPO is expected to raise $16 billion. One local investment adviser is recommending his clients not buy the stock at this point.

Local financial advisers are seeing a lot of interest from their clients on Facebook’s Initial Public Offering. However, one expert is advising people not to make an emotional decision when investing.

Bloomington Investment Adviser, Joshua Holden says his clients have been calling him for weeks with questions about Facebook stock.

“It’s a situation where people have an emotional or large desire to own it,” he says. “So, I am saying, I would not buy it at this point.”

With more than 900 million Facebook users worldwide, Holden says he understands why people want to own a piece of something so big, but he cautions against making a quick judgment.

“People are looking at Facebook and saying ‘I missed out on Apple, I don’t want to miss out on this one,'” he says. “I just want people to be more cautious, more patient.”

Holden says if one of his clients is insistent on buying the stock, he recommends only purchasing a small amount.

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