Q: Favorites Button Points to the File Which Does Not Exist
A: 1. Launch regedit editor by clicking Start>> Run and typing in 'regedit'.
2. Go to the key [HKEY_CURRENT_USER\Software\Microsoft\Windows\CurrentVersion\Explorer\User
Shell Folders]
3. In the right-hand pane, make sure that the
value named 'Favorites' points to
your Favorites folder. The default value is: %USERPROFILE%\Favorites
4. Reboot