Don’t Let Facebook Keep You Out of Stocks

Nobody has been more critical of the Facebook IPO than Knight Capital CEO Tom Joyce.

But in a live interview on CNBC's Fast Money Halftime Report he expressed hopes that Facebook hasn't freaked out retail investors.

“We got punched in the nose. A lot of us did,” he said referring to the losses resulting from mishandled trades on the stock's first day of trading. However he added the Facebook debacle should not keep anybody out of the market.

“The retail investor is obviously disappointed – forget about short-term disappointment, focus on the long-term and you’ll be rewarded."

In fact, Joyce seems worried that Facebook will keep some investors in bonds, and if that happens, in the long run Joyce thinks they’ll be sorry.

“It’s time to avoid the bubble that seems to be forming in the fixed income markets,” he said. “I don’t know when it bursts – but I think we’re in shouting distance of when rates go up. There are great companies available at great prices – put money to work in equity markets, now."

Not in the Ballpark

As we mentioned above, Joyce has been very critical of Nasdaq and the way the exchange has handled the Facebook IPO.

On CNBC’s Squawk Box he called it, “arguably worst performance by an exchange on an IPO ever.”

And on Thursday’s Halftime, he again voiced his dissatisfaction, this time taking aim at CEO Bob Greifeld’s planned "one-time" payoutof about $40 million to compensate financial firms that suffered losses from mishandled trades.

“They’re not even in the ball park with what they’re proposing,” Joyce tells us. “The number I came up with – that the Street has come up with - is well over $100 million. “

And Joyce tells us although he doesn’t want to go to court, it’s not out of the question.

“We will pursue any and all avenues at our disposal to come up with a solution.”

Posted by CNBC's Lee Brodie

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Trader disclosure: On June 7, 2012, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Stephen Weiss is long MSFT; Stephen Weiss is long JOYG; Stephen Weiss is long QCOM; Stephen Weiss is long AIG; Stephen Weiss is long CMI; Stephen Weiss is long JCP; Brian Kelly is long USG CALLS; Josh Brown is long LULU with wires.