eBay: a stock worth its price?

Smartass Christopher Byron in this week’s installation of Back of the Envelope on The New York Observer explains why eBay, even though trading at a (high for these days) 83 times year-ahead earnings, is the one dotcom to survive the carnage; the short answer is they get money from real people and not other dotcom/tech companies. This column has an excellent, brief, precise explanation of the tech stock crash, one of the best I’ve read.

Note: there’s no permalink yet for this article, but an index of all his columns is online.