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Austin Smith: What's one stock you're going to be looking... I'm not going to say "to buy," but one stock that's definitely on your radar that you'd be eager to pull the trigger on in 2013?
Andrew Tonner: I'll say a stock you referenced, actually a stock I own that I love, and then springboard off of that, is eBay. They're a fantastic company. The thing maybe not a lot of investors realize, they actually own 20% of basically what is eBay South, MercadoLibre, the online auction platform for South America that's also growing by leaps and bounds. It's actually trading at pretty reasonable valuations as well.
It's obviously a successful model. We've seen eBay grow to become basically a platform throughout the world for this, but they have such a dominant share of the Latin American market, and you're also exposed to so much more -- Internet adoption, technology penetration, the growth of e-commerce in developing markets -- all these exciting growth themes that the company is really beautifully tied in with.
It pays a dividend, excellent management with a strong history of track record and insider ownership. I think there's a lot to be excited about with this stock. It's not rewriting the book, it's not a new model, but it has proven to be an extremely successful one, and I think a nice way to play emerging market tech growth.
Austin: Yeah, I sort of love these X of Y plays. I own Baidu, the Google of China and there's the Yandex. A lot of these X of Y plays are really great, because they parrot a proven model that you know is successful.
If they can hit a tipping point of scale and market share in their respective markets you know they have a winning model, so it's easy to understand how they're going to make money, how they're going to grow. It's a great way to invest, actually.
Andrew: Yeah, I think it's a great play as well.