I flipped a coin when choosing between Akamai Tech (AKAM), Acme Packet (APKT) or Mercadolibre (MELI). The coin landed on its side so MELI it was. Another addition to the wing of valuation does not matter. [Apr 26, 2010: Yep, It's Starting to get 1999ish Out There - Analyst Upgrades Mercadolibre and Slaps 60x Forward Estimate on It] Restarted the position with a 1.4% exposure.
All 3 of these exhibit very good relative strength - I have no idea if the market rallies which will go up the most, or if the market dumps which will hold up the best.
I don't believe we've owned this name since late 2008. As I have for years, I remain boggled why this is an independent company and not bought out by Ebay.
Long Mercadolibre in fund; no personal position