putting my money where my blog mouth is, i shorted 5000 shares of ebay at $39 today. as i've said, i think ebay is a great company run by really smart people, however, i believe they have some tough times ahead as their walled garden marketplace confronts competition from the free and open network. as many have also said, their purchase of skype which is hard to justify on any synergistic level seems like a big sell sign. looks like backwards arbitrage as they are useing their stock at say a 40 p/e and buying another stock at say a 300 p/e.
Wow, that's quite a gamble.
Posted by: Randy Charles Morin | October 26, 2005 at 12:32 PM