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Imagine the horror as my finger pressed the mouse today and triggered the buy order for EBAY.

I couldn't help myself, 6 times free cash flow, no debt, $3B+ cash, dominant online auction, paypal (more accounts than American Express), just bought competition Bill me Later,,,, StubHub, Skype.

The little guy on my left shoulder, the one that still exults with pride for completely avoiding the dotcom meltdown, was absolutely disgusted with the choice and stands before you with shame.

The other little guy kept whispering in my ear "6 X FCF, huge margins, dominant position and network effect, internet sales may not fall off the cliff like Mr Market has concluded"
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