Enough with the Facebook Blame Game

  As Facebook Inc (NASDAQ:FB) endured another down day on Monday, market watchers continue to wonder if the company’s IPO was such a good idea. A devil’s advocate will say not so fast; Facebook didn’t do such a bad thing by going through with the IPO as other factors affected the debut. Take a look: IPOs in general are bad investments IPOs in general perform badly. Firms go public so insiders can raise capital, and also get out. They time the IPO to their benefit, not to one of shareholders. Numerous studies have shown that IPOs under-perform the market. It makes sense,…