Monday, November 5, 2007

Long Yahoo! and Alibaba

Picked up shares of Yahoo! (YHOO) recently @ 31.08. I'm definitely not a fan of their customer service, but I like their ~40% ownership stake in Alibaba. Alibaba has raised $1.5B in their IPO and in a few hours (Nov. 6 in Hong Kong), Alibaba will begin on the Hong Kong Stock Exchange.

For those of you who aren't familiar w/ the company, Alibaba is a MONSTER in Asia. It dominates the b-to-b space and has crushed eBay in China with its Taobao site. It also has a service called Alipay, which is comparable to eBay's PayPal.

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