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

To: Robert Rose who wrote (1180)	12/20/1998 4:22:00 PM
From: Stewart Elliot	Read Replies (1) \| Respond to of 7772

I realize that we're on the same page here - I definitely don't want to come across as argumentative. regarding your message: Not necessarily hedge funds. There are funds and individual investors that specialize in shorting. It's a livelihood that requires a sound sleeper! Even the professional shorters have gotten crushed by AMZN and YHOO. As you've mentioned, the old models don't work here. The internet is all the rage, yhoo & amzn are the marque names and the math just does not apply - they're always in the headlines and the news is always good. Although I could be wrong (lord knows i often am!), EBAY's business is not in the same class as a AMZN or YHOO. It will likely end up in the 2nd tier, still carrying an extraordinary multiple by standard models, but not seen as one of the marque names. Even if it does, it will take awhile to get there - yhoo and amzn have been in the headlines now for a couple of years. EBAY is just getting started. The current price is a story about a thin float, well timed with internet mania and the xmas season. I feel bad for the retail investor who is putting their savings in this stock because of Meeker and any of the other analysts who feel no responsibility for the retail investors they hype. Everything they say is good, and little caution is mentioned. I would bet that she is telling her investors to lighten up on this company .......