Facebook is the first company to federate seemingly everybody onto the same website where many of us are remaining actively and engaged with the people of our lives. More than that, Facebook has managed to monetize users to an impressive degree. In fact, so impressive is the Facebook money-making machine that a young Facebook games company, Zynga, has a higher market cap than one of the long-time titans of the video-gaming industry, Electronic Arts. At present there are no identifiable competitors that threaten to move Facebook’s base of increasingly active online users anywhere else. I might not have access to the financials, and it could be a classic bust situation if something major changes within Facebook or its competitive landscape, but today Facebook shares are worth more than they are being shared for. If you can buy them, do. Be ready to get out if that future competitor emerges, but at the moment Facebook has the unique and powerful distinction of bringing all of us together on the web in one place and knows how to make tremendous amount of money from us besides. In January 2011, there was only one possible recommendation for Facebook shares even completely ignorant of the current valuation. Buy.