Why is a value investor writing about an unprofitable internet company? Because value investing is about finding dollars that trade for fifty cents; with a market cap of less than 75% of sales, Overstock.com (OSTK) looks like it may be exactly that.
But isnt it too risky?
The greatest risk in any investment is the risk of overpaying. So, the real question is: what is Overstock worth? I think its worth at least $1.5 billion. With Overstocks market cap currently sitti…