Well, I guess I have to report that Facebook has today opened at $38.10 - marginally ahead of its May 2012 IPO price of $38 for the first time. As I said in Facebook - What a Surprise their Q2 results last week were extremely good. Since then their share price has surged by nearly 50% in just a week. Facebook now has a market value of over $90 billion.
Whether I was ultimately completely wrong in calling Facebook a passing fad, only time will tell. But the markets, at least, do not agree with me at the moment.