Bill Martin – well-known for his role as founder of the Raging Bull website – now shares his trading and investment advice in his always-intriguing FindProfit newsletter.

And while noting that his latest buy "strays a bit from our usual small-to mid-cap focus," he is nevertheless willing to "step up and buy web giant eBay (NASDAQ: EBAY)."

After watching EBAY for years, he says, "we believe that the stock now represents an attractive purchase for long-term investors."

Ne notes that the stock began underperforming in 2005 as growth in its core marketplace business slowed and Google gained operating steam. Meanwhile, he says, the stock is now over 20% below its 52-week high and equal to the levels it traded at in early 2004.

In his view, EBAY is now an "attractive growth at a reasonable price stock." He forecasts that the company should generate nearly $2 billion in free cash flow in 2007 despite, he notes, high levels of capital expenditures.

The advisor notes, "To us, EBAY increasingly looks like the kind of high-class company that Warren Buffett loves: it has a strong brand and franchise, it generates substantial returns on equity, it is positioned to grow for as far as the eye can see, and it is in a position to reinvest its cash flows at high rates of return."