It doesn't matter, if you search my old posts some months ago when RenRen (
http://www.google.com/finance?q=renn), the Chinese Facebook, debuted on the market and on the first day went higher (up to $24) than the IPO price I warned that it was insane and it was just another bubble 'bubbling'.
Now it's just above $7
Same for LinkedIn.
A P/E ratio of 1000 ?
In Italy there are currently solid blue chip companies delivering a dividend of 8% and with a P/E ratio under 10. That's value.
Then of course if there are fools buying some kind of shares with no intrinsic value and FairFax makes money out of it, good for them. It won't be me buying though.
But as I said, I need to see TradeMe's financials. If they come up with numbers that I hardly expect then it will be another thing.
In other words, would you pay 1000 times (that's 1000 years) the earnings for a domain?
Example: a domain earns $10/year , would you pay $10,000 for it? Please tell me this so I can sell you lots of domains at a special discounted rate of 50% off.