Dueling Fools: Blue Nile

Lives change -- often forever -- after an engagement ring is exchanged. And no one is happier about that than Blue Nile (Nasdaq: NILE). The online jeweler has carved out a cozy living by selling high-end diamond engagement rings to nervous grooms-to-be.

Getting hitched is big business. Just check out the folks streaming in to Williams-Sonoma (NYSE: WSM) or Macy's (NYSE: M) to fill out bridal-gift registries. Log on to The Knot (Nasdaq: KNOT), where more than 3 million unique visitors scroll through the site on any given month, in search of advice and leads on local wedding-service providers.

And what's a wedding without flowers? That's where companies such as FTD (NYSE: FTD), 1-800-Flowers (Nasdaq: FLWS), and even Martha Stewart (NYSE: MSO) come in, with seasonal blooms to spruce up reception halls, table settings, and the flying bridal bouquet.

A simple nod sets it all in motion, but you need to get the engagement ring first. Blue Nile -- a popular Rule Breakers newsletter recommendation -- has excelled on that front. But will the shares jilt investors at the altar? The stock has certainly had a great run over the years, but has it come too far, too soon?

Not all Fools agree. Billy Fisher is bullish on the company. Chuck Saletta is our bear.

Which proposal will get your nod of approval? That's what this week's bout is all about.

Duel on!

• Read the bull argument
• Read the bear argument
• Read the bullish rebuttal
• Read the bearish rebuttal
• Vote for the winner