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Strategies & Market Trends : The New Economy and its Winners

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To: Bill Harmond who wrote (10799)	3/10/2002 10:05:31 AM
From: Proud_Infidel	Read Replies (2) of 57684

For good reason. Could you explain what the reason is as I do not see it. I don't mean to be flip; EBAY may be a great company and have a stranglehold on its sector now, but I don't know if it deserves such a lofty multiple. It's business has virtually no barriers to entry, an important variable for multiple expansion IMHO, and the web is young(in its infancy). To assume EBAY will own the auction market forever is a big leap. In the interest of full disclosure, I have no position in EBAY, as I could never justify its price. Regards, Brian

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