If the market would have acted rationally, FB would never have IPO'd at 38 per share given their profits. Being valued at 105 billion dollar when your profit is

If the market would have acted rationally, FB would never have IPO'd at 38 per share given their profits. Being valued at 105 billion dollar when your profit is only around 1 billion a year is insane, especially when you also account for the highly volatile nature of social networking (FB might be replaced by something we've never heard about in a couple of years)