Google's Still Buyable

What the heck is Google(GOOG Quote) doing selling at 1 times its growth rate?

What is a company that is successfully integrating Doubleclick to rout its ad enemies, a company that is now going up against a totally challenged Yahoo!(YHOO Quote), a company that has a division that is growing 7% organically per week (YouTube) and a company that has the best balance sheet in the world doing selling at 1 times growth?

I swear, if we just used the old rule of 10, where you divide the price of some high-dollar shares by 10 to make the valuation process less daunting, no one would think twice if this $53 stock went to $60.

I named the four horsemen of tech a month ago, RAGA -- Research In Motion(RIMM Quote), Amazon(AMZN Quote), Google and Apple(AAPL Quote) -- and each has astounding growth vs. its multiple, with the possible exception of Amazon, which is also a play on a ridiculously large short position. ...