Last year in the midst of Google Inc. (NASDAQ: GOOG) euphoria I wrote Google me this Batman: Do you feel lucky? stating that Google was a great company but was not worth the price. Soon after when I posted 10 Reasons I think Google is going down, I received negative comments suggesting perhaps I shorted the stock just because I thought the price was ridiculous, however, it did go down...and then recovered with numerous positive earning reports and overzealous analysts calls. Google has hit a wall for the time being ( 4 months) and all of the ten reasons remain intact. It is still an overvalued one trick pony.

Now all the analysts making pronouncements about Google being $600 to $800 per share have gone into hiding and the downgrades are starting to appear. They overpaid for YouTube, Doubleclick and $300,000,000 per year for the next three years to News Corp (NYSE: NWS) to gain certain rights to MySpace seems like panic buying rather than shrewd investing.

Yahoo Inc. (NASDAQ: YHOO) has followed this same strategy, buying and buying and buying new pieces to make itself whole and capture market share, and that it did, all in an effort to prop up its sagging share price. Google will be okay in the long run. It will just not be a $250 billion company any time soon, as people hoped and prayed.

Those of you who are new to Bloggingstocks.com can check out my other stories and read Chasing Value or Serious Money to find more potential opportunities and verify my track record as well.

Disclosure: I have never held any position in Google and do not now..

Sheldon Liber is the CEO of a small private investment company and the vice president for design and research at an architecture & planning firm. Check out his other posts for BloggingStocks here.