The euphoria surrounding the upcoming Facebook (FB) IPO is reaching ridiculous levels, says Information Arbitrage. Retail brokers have stopped taking orders. The offering price range has been dramatically increased. And the amount of stock sophisticated investors and insiders are selling is enormous. So... What should one make of all this? Simple - buyer beware. The hype surrounding the IPO is similar to that of Blackstone's (BX -5.4%) in 2007, which has essentially been dead money ever since.