NEW YORK -- Ted Weisberg, who some call the Mayor of Wall Street, has seen it all in his long career, and to him the newly public Facebook Inc. is “just another stock."
Weisberg, a longtime Wall Street trader and founder of Seaport Securities Corp., said he had a "professional curiosity" in Facebook's IPO but no "direct interest," despite all of the media attention.
“History seems to remind us that when it looks too good to be true it usually is,” Weisberg said. “It’s very hard for any stock to live up to the hyped expectation."
Weisberg's seasoned clients are generally not interested in buying Facebook's newly public shares -- at least not yet, he said. Facebook began trading Friday morning on the Nasdaq after their $38-per-share IPO price.