Good question. As I pointed out above, after looking at the balance sheet history, it appears that the bulk of Yahoo's liabilities are tied to the Alibaba inve

Good question. As I pointed out above, after looking at the balance sheet history, it appears that the bulk of Yahoo's liabilities are tied to the Alibaba investment. Those liabilities will understandably follow that asset, and shows just how ridiculous the math is that people here are using here. Alibaba is not worth what is on the asset side. It is worth that value minus the liabilities specifically tied to that asset.