Bloomberg reports that a poll of global investors reveals that 69% of them think that Facebook is overvalued. Just 10% thought it was “properly valued” (and 4% thought it undervalued), while 17% had “no idea.” Bloomberg conducted the poll over the past weekend, and revealed the results yesterday. One of the poll respondents, John J. Lee of PGB Trust & Investments, minced no words talking to Bloomberg: “Those investing in Facebook, expecting it to be the next Google, might be in for some bad news along the way. Eventually, all fads get cheaper copycat lookalikes. While being first to market makes Facebook a winner, another faster, stronger company with more something will come along and dilute its value.”
