Google.

[AceHigh]

[ QUOTE ]
but its book value is no where near its trading value

[/ QUOTE ]

Book value is probably the single worst metric for measuring the value of a company. Sometimes a company can be a value because it's been down on it's luck and worth less than it's book value, but that's about the only time it's important.

The beauty of internet stocks is that they can be huge companies and have small book values. They don't need a store in every town in America because they have a store in everyone's house with the PC's they own. So book value is especially useless in evaluating companies like EBAY, YAHOO and Google.