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Technology Stocks : Amazon.com, Inc. (AMZN)
AMZN 229.55+0.2%Dec 5 9:30 AM EST

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To: Ted David who wrote (62073)6/13/1999 4:47:00 PM
From: GST  Read Replies (1) of 164684
 
Hey Ted -- sorry about the 'stupid' remark. It was uncalled for. But on the question of what is or is not priced into the market, many of your viewers listen to the people you interview and take what they say as gospel. I do not think it appropriate for you to push those you are interviewing to agree with what appeared to be your conclusion -- that higher rates are priced into the equity markets. Markets are complex, and do not behave in simplistic linear fashion especially when they are being driven from one dynamic regime -- falling rates -- to another dynamic -- rising rates. At this point a Fed increase may be in the market, but not a tightening trend. This change in trend, if there is one, would argue for at least a 20% decline in the major market, and could spell catastrophe for stocks that now cruise in the ozone layer of the atmosphere. Again, sorry for the thoughtless personal comment. You and your colleagues have done an incredible job of bringing the market into peoples' daily lives with great wit and ability. I hope you will accept my sincere apology.
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