S&P hits new high in broad rally

S&P hits new high in broad rally

There are 1 comment on the KCRA-TV Sacramento story from Feb 24, 2014, titled S&P hits new high in broad rally. In it, KCRA-TV Sacramento reports that:

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Since: Nov 13

Sydney, Australia

#1 Feb 24, 2014
Carl Icahn is rightly getting stuck into eBay …

eBay’s long-suffering shareholders would indeed appear to have some reason to complain about that sweet little Skype deal: a neat little pea and thimble routine that took a great deal of money off eBay’s shareholders and put it into the pockets of at least one eBay insider; then, I don’t suppose it really matters as the shareholders have never had a dividend and don’t look like ever getting one while the chief headless turkey, Johnny Ho, and his gaggle of feathers friends are lining their nests …

So, what does the “smart money” on Wall Street think about the progress of Johnny Ho’s delusion of converting eBay into the “Westfield Mall” of online shopping? Well, in late 2007, when the Ho was already effectively in control of eBay, both eBay’s and Amazon’s stock prices were ~$40; now, with the US stock market at an all time high, eBay is still only ~$56 and Amazon is ~$352.

Ah, but what about all the stock splits, you say? Well, there has not been a stock split by either Amazon or eBay since 2005. But let’s then be fair and look at the value of both these entities since their IPOs, taking into account their stock splits:

eBay: 3 x 2:1 and 1 x 3:1; ie 9 x $56; equates to a current sans-splits value of ~$504
Amazon: 2 x 2:1 and 1 x 3:1; ie 7 x $352; equates to a current sans-splits value of ~$2464

The fact is, Johnny Ho has been an disaster for just about all concerned: since the Ho arrived on the scene, eBay’s long-suffering long shareholders have, relatively speaking, been going backwards—at a quite steady rate of knots—notwithstanding the nonsense that constantly streams from the eBay Dept of Spin …

“Never ever hire an MBA; they will ruin your company.”—PayPal founder, Peter Thiel

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