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Technology Stocks : eBay - Superb Internet Business Model -- Ignore unavailable to you. Want to Upgrade?

To: zurdo who wrote (7089)	11/18/2002 12:52:21 PM
From: Thomas	Read Replies (1) \| Respond to of 7772

zurdo, As someone who has no position in eBay at the moment, I think the posters here raise good issues. Some posters may be traders and some may well be short (from time to time), but I see value in their comments. There is no doubting that eBay's valuation is rich (and getting richer), just as there is no doubt that eBay has a profitable business model that is a perfect fit for the global Internet. Would be interested to hear your thoughts as to why eBay should be a buy at these lofty levels. Cheers, Thomas

To: zurdo who wrote (7089)	11/18/2002 7:06:26 PM
From: Bill Jackson	Respond to of 7772

zurdo, EBay is being hollowed out by the drop in final value fees, even as they increase their listing fees. The drop in the final sales price due to sniping, and hence the final value fee is down 40% from last year. Is this due to the dot com bust? New listings have grown and the listing fee has gone up, so this has offset the price drop, but as the market matures thay will have to stop the snipers from stealing deals from the inexperienced majority of people. An experience bidder loads his best proxy and lets it fight for him. New and inexperienced bidders watch the auction and bump it up a dollar here and there to stay ahead of the competition. This does not work with snipers who come in at the last 2-3 seconds with a high proxy and that eats all the lower proxies and wipes out the newbies little by little approach. Bill

To: zurdo who wrote (7089)	11/18/2002 8:47:09 PM
From: AJ Berger	Read Replies (1) \| Respond to of 7772

In order to Justify ebaY's current valuation it would have to execute it's business plan perfectly on it's way to that $3 billion revenue goal by 2005. most Wall Street firms that follow ebaY have admitted as much in one form or another. So far, they have done remarkably well, and few shorts will deny that. However most shorts and some nervous longs will point out that significant cracks have formed in ebay’s otherwise Teflon armor, many of which have been discussed on this and other threads following the stock. It is upon these cracks that they base their case, and while dissenting opinions about ebay have yet to be echoed by the firms that cover it, the fact is the revelation of ebay’s many flaws is only a matter of time, and once Wall St admits ebaY is faltering on it's Perfect business plan, the stock will quickly lose the high volume of support needed to keep it aloft in a Bear market. I agree that shorting this stock going into it’s historically strongest quarter is a risky gambit, so I will be the first one to cover once the stock has gone beyond the 16.3% point I shorted it. But in the mean time, I guess I will just keep amusing you with my comical posts about ebay’s many imperfections until I’m either forced to cover, or proven correct...