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To: Copeland who wrote (5213)	11/9/1998 10:42:00 PM
From: Alski	Respond to of 14427

Copeland, The Street likes to value based on forward earnings. That brings EBAY's PE down to ONLY 621 or so. That's not to bad if you estimate EBAY is going to grow earnings to about $100 per share before the next millennium, post split of course. E-commerce is going to take over the world you know. EBAY's business model gives them about a 99.9% margin. Since the economy is shifting to service/info and it's going to melt down and stop all the factories, the only items for sale will be the pre-owned junk you'll only be able to buy at EBAY. Ergo EBAY is going to garner ALL business at virtually all profit. You think $103 is too high to pay for THAT! Alski (TFPIC)