Here’s my famous brother, quoted in the Business section of yesterday’s NY Times:
It is quite one thing for Yahoo or eBay, which have survived an Internet boom-and-bust cycle, to have a high P/E ratio and another for the Chinese Internet portals, said Mark Sellers, who has advised against investing in the Chinese portals as an equity strategist at Morningstar Inc.
“They are so expensive, and it’s hard to tell whether they will be around in 10 or 15 years,” Mr. Sellers said. “For every one of them that’s going to be the next Yahoo or eBay, 10 will crash.”
Nerds run in our family, huh?
WHY I’M ANGRY TODAY
Broker’s fee for the probable new home of Angry John Sellers: $1,600. That’s a lot of tacos.