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

AMZN 223.71

-3.9%

1:58 PM EST

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To: Bill Harmond who wrote (100536)	4/14/2000 1:57:00 AM
From: GST	Read Replies (1) of 164684

William: I don't think I have ever seen anything like the overvaluation we have seen these last two years -- ever. You really do have to go outside our own cultural experience to find anything like it. Perhaps the Japanese bubble comes close -- but this is so much worse, it is hard to compare. At the height of the Japanese bubble, people were taking hundred year mortgages -- multi-generational loans -- to buy land for fear they would never own property if they did not do so. An eighty percent drop in real estate values left many people owning practically worthless property. Ditto for many small caps in Japan. But this is worse still.

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