Linked-in-vasion of Privacy

I like tech, and our company likes to put capital in the path of social change, so when the LinkedIn.com social network came up, I tried it out -- both to see what was going on, and to consider it as a future investment.

But I quickly realized that while there's no "price" for joining as such, there is, if you will, a cost -- you give away the contact information of your friends and associates that are on LinkedIn (LNKD).

Don't get me wrong. This is their model for growth and they're entitled to use it and see how it works. I'm entitled to decline to participate, and stopped using the network some time ago.

This decision came up for me last week, when LinkedIn came up as an Initial Public Offering. I considered buying the IPO, and the stock in the hours after it started trading. But I found it constitutionally hard to do so, given that there must be others who feel the same reticence as I do about the service itself.

In fact, I'd love to short LinkedIn, but wouldn't even consider shorting something that is moving up so strongly. We want what the market wants, and if the market is in love with LinkedIn, so be it.

So great is my deference to the market that I will even consider going long the stock -- if it is able to form a base in the coming weeks, and then, break decisively up.

I would have to hold my nose a little bit, but so be it. Never fall in love with a position... long, short, or "out." With apologies to Erich Segal, love of the market means never having to say you're sorry.

Ownership disclosure: At the time this product was published or posted, Damon Vickers & Co. and Nine Points Capital Partners had no position long or short in Linked-In (LNKD).