is that world is migrating to an eCommerce environment....and the market investors are betting that way. Valuations...PE's, Book Values, etc, mean squat when the internet brings on the emergence of a new social/business structure. eBay is one of those companies. At worse, it is scoffed up by Netscape, Microsoft, or one of the big search engines with a big portal presence. If that happens, you will want to be long. There are times to short this one too (timing only)...to take a quick profit.