Facebook IPO Is A Buy If You Want To Pay An Exorbitant Price

We heard yesterday that the first sell-side report came out on Facebook. This is unusual as most firms do not issue reports before the IPO. Unsurprisingly, the report, which came from Wedbush Research, had a buy on the stock.

Reports on the company's IPO have also come from Sterne Agee, Evercore Partners and Susquehanna Financial Group.

Most value investors have shied away from Facebook. Warren Buffett stated that he would not buy it. Mark Zuckerberg has 57% control of the company so...