The Motley Fool's CAPS investing service is one of the newest additions to the investing community at Fool.com, and it's another great way for investors to work together to beat the market. One of the features in CAPS allows users to set up a blog to talk about their picks, investing strategy, market view, or favorite baseball team (if they so desire).

I'm back again this week to bring you some more of the great content from the Fools who have taken advantage of CAPS' blogs.

The mystery behind Ctrip.com
 Ctrip.com (NASDAQ:CTRP) has been hot. Not "I burned my tongue on some hot McDonald's coffee" hot, either -- more like Ghost Rider's flaming skull hot. The stock has more than doubled since the beginning of 2006, and it's not showing signs of flagging quite yet. The stock is also a three-time Hidden Gems selection and has gained 68% since the most recent recommendation.

CAPS player booyahbullbeast happens to like Ctrip a lot, but the stock's current valuation seems to be a stumbling point:

I have been interested in Ctrip.com as an investment for sometime now. ... I love many of the things about the company. It is obviously a China play, and is still in its early growth stages at that. If they can tap into anywhere near the market penetration that Expedia.com has in the United States then this stock has room to move. They have zero debt, great earnings growth, a solid cash base, a very nice return on equity and investment, and a 32% long term five year expected growth rate. They are by all means a great company. But how much do you pay for a great company? ...

Ctrip.com currently trades at about 42 times [2008] earnings. Not terribly bad for a growth stock I suppose. But not good either. Their PEG ratio is 1.83 as of this writing -- about average for a good company like Ctrip, but not exactly tantalizing either. ... Certainly this stock isn't a value play. I think we can conclude that. So I try to justify the growth story. This is hopefully where the Foolish community can help me out. ...

If anyone has found a way to justify the premium or has an example of why this stock could work in the long haul please do comment on my blog.

To read the comments so far on booyahbullbeast's post, or to provide some thoughts of your own, click here. If your wheels are turning now, you can also check out Ctrip on CAPS, where it has been rated four stars (out of five) by the CAPS community. If you agree that Ctrip is too expensive, you may want to check out a few of the other stocks that Ctrip fans have liked on CAPS, including fellow Hidden Gems picks Nuance Communications (NASDAQ:NUAN) and Select Comfort (NASDAQ:SCSS).

Stocks that make you go "hmmmmm"
One of my favorite CAPS bloggers, raytoei, expounds on one of the ways that he looks for new ideas:

Like the legendary investor John Neff once wrote: "what we are looking for are companies on the new low list that makes you go 'hmmmm,' because they do not belong there. Perhaps this is a good quality company that has some short-term issues, that is why they are on the new low list. It may be worthwhile to figure out whether the problem is indeed short-term and whether the margin of safety is sufficient."

Among the stocks at or near their 52-week low that make raytoei go "hmmmm" are Stock Advisor selections Starbucks (NASDAQ:SBUX) and Netflix (NASDAQ:NFLX), as well as TransAct Technologies.

You can also catch more from raytoei's blog here.

And now it's your turn -- get off the sidelines, join CAPS, and start up your own CAPS blog to share your own knowledge and insights with the rest of the CAPS universe.

Intrigued by small caps with room to run? Check out a 30-day free trial of Motley Fool Hidden Gems.

Fool contributor Matt Koppenheffer shares some thoughts of his own on his CAPS blog. He does not own shares of any companies mentioned. The Fool's disclosure policy does not have its own CAPS blog, but if it did, it would blow your mind.