"It's a Blowout" - "Interest in shares of Facebook Inc. is so strong that Goldman Sachs Group Inc. plans to stop soliciting interest"

From Taylor in the comments section, excellent story from the WSJ:

Interest in shares of Facebook Inc. is so strong that Goldman Sachs Group Inc. plans to stop soliciting interest from potential investors on Thursday, after the securities firm received orders of several billion dollars, according to people familiar with the situation.

"It's a blowout," one Goldman employee told an investor who has considered trying to buy Facebook shares on behalf of a client.[...]

Facebook likely will decide how many shares to sell based on how many company shares employees want to unload, according to one investor briefed on terms of the transaction.

At a $50 billion dollar valuation!

Why aren't these dolts interested in buying companies trading at less than two times cash flow? 

Why aren't the inflationists interested in companies offering barrels of oil in the ground at a tenth of spot price, instead of buying silver at 10x the mining cost?

Two possibilities: the rules have changed OR the rules haven't changed, and buying smart and selling stupid will be a life-changing trade, just like shorting the housing bubble in 2007, as long as you do it in a way that allows you to weather the storm.