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Technology Stocks : Amazon.com, Inc. (AMZN)

AMZN 233.05

+2.9%

Jan 5 3:59 PM EST

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To: Sarmad Y. Hermiz who wrote (47410)	3/26/1999 10:27:00 PM
From: Mike M	of 164684

I don't know whether you are positive or negative on amzn. I fall on the side that says this is pure tulipbulbmania (TBM) and will end badly... During TBM, as the frenzy gained momentum a house in Amsterdam could be purchased for six tulip bulbs...When the mania peaked, one tulip bulb paid for a house. An adept trader (like Mark and William) could sell his home for six bulbs and later use them to buy six houses. Then came the collapse. Lester Thurow, the former dean of MIT's School of Management has pointed out that "Today's economic models are very accurate. In fact they are good at everything but timing. We know Internet prices will collapse, we just don't know when. To buy what one can't possibly understand and pay an unsustainable price is to say, 'I'm a fool to buy this, but I think I can find a greater fool who will pay even more' Thoughtful people know prices will fall, and they don't take the risks associated with trying to predict when the collapse might occur. When it does happen, it will be sudden and there will be no escape." The sad part is we repeat history, only the names and places change. Perhaps the most logical explanation is a consistent theme of greed. Greed helps make capitalism work, but it can also lead to meltdown. The only question is when.... Mike

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