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Best and Final

Started by SBK2011
about 12 years ago
Posts: 74
Member since: Dec 2010
Discussion about
Couple of days ago, I won a best and final bid only to receive a phone call the next day from listing broker. Listing broker tells me she received an email from one of the bidders and that they have now outbid me by $50K and that she has to submit to seller. Seller decides that she cannot pass up the extra $50K. Upon hearing this news, I decide to match this bid. Today, I get call from listing broker, saying the seller has decided to go with other bidding party because they are US citizens and I am a foreign buyer. #1, how unethical is it to look at bids after a best and final situation? #2, is it against Fair Housing Laws to go with one buyer over another because of Nationality?
Response by KeithB
about 12 years ago
Posts: 976
Member since: Aug 2009

OttawaNYC-But look what happened to FB, IPO flopped, still only about $6 bucks above ipo price. Hey West67th, you think re borkers are bad? My broker at Merrill advised me not to buy aapl at $96, thought it was over valued :) Those 1000 shares sure would have been nice today with a new baby in the house!

Now I own 15 ETFs and a few energy stocks paying big dividends. I would say I sleep better, but my daughter has put an end to that (for now anyway).

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Response by Ottawanyc
about 12 years ago
Posts: 842
Member since: Aug 2011

Keith, FB IPO was mishandled, which is why twitter is going to go with NYSE. FB is absolutely on fire. Now my biggest holding. Also, FB lower price also had a lot to do with not getting mobile right. They have and now it is up more than %100 in a few months and everything and anything social media is flying. For me getting in on the IPO would be a no brainer. People are salivating for this IPO. And your energy stocks will go down in next few months as taper begins and bonds become more attractive.

Any case, best of luck. My two cents is that it is a great opportunity.

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Response by Truth
about 12 years ago
Posts: 5641
Member since: Dec 2009

UH-O, KeithB:
There goes any hope for you to get a good night's sleep.
I didn't know that you and Mrs. B have a new baby. Congrats!

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Response by fieldschester
about 12 years ago
Posts: 3525
Member since: Jul 2013

>Keith, FB IPO was mishandled, which is why twitter is going to go with NYSE.

So it's all on the exchange?

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