Once the sensationalistic dust settles, investors will focus on the early portion of Mayer's tenure as a honeymoon period. Given this week's modest rise in YHOO, maybe they already have. As she begins setting the groundwork for a turnaround, we'll see more upside in the shares. After last week's gains, YHOO trades at a price-to-earnings ratio just below 18. It's able to stay in the teens, as opposed to the single digits of Research in Motion ( RIMM) -- before it started losing money -- because, relatively speaking, its remains a revenue powerhouse, it does not seem to run the immediate risk of losing money, and plenty of eyeballs see value in the company's properties and content. If you view the P/E ratio as I do -- as less of a valuation measure and more of a gauge of investor confidence in the future -- it's easy to see why you should expect more upside in YHOO on the heels of Mayer getting the CEO gig.