HeresTomWithTheWeather

Google stormed past $308/share today. It's P/E ratio is a gravity-defying 122. Amazing. Don't cry for Yahoo, though. It seems it was around September 2004 that Google gave Yahoo 1% of it's shares(2.7 million shares) as part of resolving a service agreement dispute and to resolve some patent disputes. One percent of $86 billion is $860 million. Assuming Yahoo hasn't sold any, Google stock represents at least 1.7% of Yahoo's market capitalization. There are a lot of smart people at Google and Yahoo and I'm sure the smart people are thankful for stupid people. No Internet stock is worth a P/E of 122.