We’ve still got the “bubble” monkey on our backs…

 Stock market bubbles are like pure opium…even though we all say we’re clean, and we don’t want to indulge anymore, in our secret hearts we still do. 

Further evidence of this came in Forbes Magazine, which recently listed Google founders Sergey Brin and Larry Page in their 2004 list of world billionaires.  In spite of the fact that Google is not a public company and Google stock is non-negotiable in public circles.  Doesn’t that strike anybody as odd?

I’ve been through two IPO’s, and the day before each of them, in the outside world, my stock was worth…nothing.  The day after, it was worth something, because somebody could buy it from me (I’m skirting the lockup issue for clarity).  Google hasn’t even announced its IPO nor filed with the SEC yet (as far as anybody can tell).  What’s really going on here is that everyone desperately wants Google to have their IPO sometime soon, to possibly re-ignite an IPO market for technology companies.  Heck, I’d like the same thing, but this time, let’s hold the side order of insanity.  Brin and Page will be billionaires when and if Google is a publicly traded stock. 

To Forbes:  wishing doesn’t make it so. 

And congrats to J.K. Rowling, who did join the ranks of billionaires this year, and frankly, deserves it a hell of a lot more than Mikhail Khodorkovsky or some of the other folks on the list.