PetroChina vs FaceBook

"PetroChina was established on November 5, 1999 with CNPC as its sole promoter. As of December 31, 2007, CNPC owned 157,922,077,818 shares, representing approximately 86.29% of the share capital of PetroChina, and, accordingly, CNPC is our controlling shareholder.  ... CNPC’s interests may sometimes conflict with those of some or all of our minority shareholders. We cannot assure you that CNPC, as controlling shareholder, will always vote its shares in a way that benefits our minority shareholders."  Source: PetroChina's SEC Filing

This isn't a stock for widows or orphans.  I'm removing it from my Global 30 list.  If I was a billionaire like Warren Buffet, I wouldn't invest a dime in this company.  Ownership of stock in PTR would be more like owning a bond.  And maybe they mean well, but in a financial crisis, you would be the last to be paid back.  I'm replacing it with another company.

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FaceBook now has a market cap of over $140 billion, which is absurd.  But I think it is indicative of our bubble economy.

The Global 30 is my version of the fabled Dow Jones Industrial Average.  I'm  adding FaceBook to it.  See previous posts, which I will edit.

Other possible candidates were Verizon (VZ), Merck (MRK), PhilipMorris (PM), and GlaxoSmithKline (GSK). And Comcast (CMCSA).  FaceBook stock is increasing faster than these companies, and it will probably drop faster in a crash, which is exactly what I want to show.

I wonder when FaceBook will be added to the DJIA?  (joke)