In case you missed it, Facebook added a new friend to its payroll and everyone from Silicon Valley to Wall Street is buzzing about it.
PayPal President David Marcus will now be head of Facebook's messaging products. However, value investor Bill Smead told CNBC he thinks Mark Zuckerberg has very different intentions for the hire.
"If Facebook hires the guy who was just running it, what does it tell you about Facebook's intentions? He's coming here to do messaging. Really? Are they going to generate a lot of revenue off that? Or is Facebook going to be one of the three companies trying to buy eBay and they just wanted to have the guy running it sitting in the house," the CEO and chief investment officer of Smead Capital said on "Squawk Box."