Damodaran dismisses conspiracy theorists in Facebook IPO

Commenting on the Facebook IPO, Professor Aswath Damodaran, the Kerschner Family Chair in Finance Education at Stern School of Business, NYU, chalked up the problems more to market inefficiencies and banker ineptitude than any conspiracy, delivering a line that could become iconic in the valuation community:  “…Facebook’s IPO is just proof that if you want something valued, you should not ask a bank to do it.”