Ask HN: How would an individual investor buy Facebook shares? | Hacker News Reader

Ask HN: How would an individual investor buy Facebook shares?

2 pointsAlexC047 comments

So I've just had a bit of an epiphany or flash of understanding with respect to why Facebook is worth the current $75M and IMO could be worth significantly more.

I see the posts that say that they are trading somehow, but everything I've seen requires a trade of 10,000 shares (at $30 each).

I can' afford that, but I'd happily bet my current available life savings of a few thousand dollars.

How does an individual investor make that purchase? Or do I really have to be in a position to put $300k into Facebook if I want to be able to hop on for the ride?

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FYI - I just got an email back from Shares Post.

| Unfortunately all investors must be accredited investors

| as defined by the SEC in order to participate.

| Thanks,

| Team SharesPost

| On Mon, Mar 7, 2011 at 11:09 AM, SharesPost <no-reply@sharespost.com> wrote:

And apparently the SEC definition is here: http://www.sec.gov/answers/accred.htm

http://www.secondmarket.com

Sadly, it seems to use their interface you've got to be Accredited. (I've logged in and tried)

So I can't actually buy stock in their system.

It's not quite as easy as popping on and plunking in a credit card number. Not that shares are like that in real markets either, but it's actually a little more manageable.

Apart from a link to the service, Shares Post being another one (http://www.sharespost.com/companies/facebook). I've also popped on to SharesPost but it's also 'pending approval'

How does a layman go about buying "what he can afford" in terms of Facebook shares?

you just have to lie and say you're accredited.

Hmm... and when they check your credentials? I'm not sure it's as easy as getting around the age-verification on porn sites (are you 18? yes / no)

Maybe there are investment conglomerates out there - or group buy in / mutual clubs where I can put in a share of the money towards the actual facebook purchase.

well, try it and find out.

US citizens are not elidgable. Offering was not FTC sanctioned.

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