Facebook Reality Check

Facebook has been a public company for 2 trading days and with the amount of ink spilled and judgments passed, one would think this stock was the next Enron.

Did the deal get done above fair value? Sure.

Are the bankers pigs? Duh.

Did some investors make an ungodly amount of money? Ya.

Did others get hosed? Yep.

Was the first day of trading fakakta? Of course….

None of this is so far outside the range of normality its just happening on a bigger and more scrutinized scale.

Meanwhile, $FB will have quarters and years to execute (or not) and prove itself or fail.