Following truths about GOOG:

1. It's not a bubble. Chances are much better that GOOG will be bigger than today's MSFT in 10 years. The fact that MSFT's China head has defected should tell you a lot.

2. Its current result is NOT bad. It's only that people are expecting them to blow out the estimate every time.

3. GOOG is not going to 100 this month, unless the market crashed like 1929 or 1987.

4. I expect GOOG to earn 5.00 per share in 2005. At a growth rate of 50+%, a PE of 60 is fully warranted, so GOOG at 300 is very reasonable target by the end of this year. Therefore, any dip to 250 range should be considered buy opportunity.