So now you "unlike" Facebook?

Admit it, most of you have a Facebook account and some of you really wanted to get in the IPO of last May 18th. When the company filed for the deal, many financial analysts, specialized TV shows, podcasts and Facebook fans talked incessantly about one of the most awaited and sought-after IPO's. It seemed that people could not get enough of the story, and an enormous hype had developed around the eagerly expected deal. So many wanted to get into the action and so many thought that they would make a lot of money, and now so many are so very disappointed.

Did you expect a different outcome based on "information publicly available"? All you had to do was a little homework.

For those who saw the movie "The Social Network," remember how Facebook came to be: Mark Zuckerberg seeking revenge after being dumped by his "girlfriend." And do you remember how he treated the friends who started the business with him (co-founder Eduardo Saverin), or what happened to the allegedly original intellectual creators of the idea (the Winklevoss brothers). Do you remember the slogan for the movie? "You don't get to 500 million friends without making a few enemies."

As for the now-acclaimed privileged information that the company's revenues would be lower, well that was stated in a public document presented on May 9th, almost two weeks before the IPO, when Facebook admitted that numbers from the mobile business had not been proven. But you still wanted in!

To say, after the fact, that some of the Underwriters gave the information to a "select group of their clients" is a bit insulting, as they would stand to lose much more by doing so than by just telling everybody. After all, some of them are in enough trouble and would much prefer to start over with a clean slate than to swim in murky waters.

But before you start “unliking” Facebook, think, don’t react. Back in 2004 when Google did their IPO, most could not believe that the company would produce the numbers they have generated so far, and that took the company from an IPO price of $85 to around $600 today. Do you really think that Zuckerberg and his team took the company to where it is now, and they don’t have an idea on how to be creative? Do you think they lack a strong entrepreneurial spirit that will allow them to develop new revenue generating products and services? With all the money raised during the IPO, couldn’t the company go on a shopping spree and purchase business that would help them achieve great financial numbers? Google did it, when they came out with Google Maps, and then a Smart Phone, and so many other great ideas.  Aren’t the people that run Facebook very creative as well?

And to this date, Facebook is yet to enter China. Imagine the market potential when that happens.

Don’t forget that a great number of shares are in the hands of Zuckerberg and his team and that most employees have stock options that can be exercised in November. Would they want their fortunes ruined by a bad deal?

Last, all IPO’s are risky and your Financial Adviser should have told you so. If your Investor Profile did not fit this type of investment, you should have not gotten into it. However, if you are among the “greedy bunch” and now own a piece of Facebook, lick your wounds, suck it up, be a grown up and most important of all: be patient and have a little faith in the American Entrepreneurial spirit, it’s what makes this country great!

For disclosure purposes, FINSER holds a position on Facebook