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Technology Stocks : Amazon.com, Inc. (AMZN)
AMZN 222.55-4.4%Nov 18 3:59 PM EST
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To: Glenn D. Rudolph who wrote (103699)5/20/2000 9:42:00 PM
From: Sarmad Y. Hermiz  Read Replies (3) of 164684
 
>> I am going to be very close to KIS's place in two weeks. I wonder if I should visit. I suspect he and I would get along very well;-)

I think you would. Remember he invited everyone to come and have lunch as his guest a year ago. But WH just refused. Maybe if they broke bread together we would all just get along.

>> I thought you were making the dtermination of what was wheat and what was chaff.

Well I am. And I put my money behind my opinion. I also think the people who buy the fool stocks at this late date are just setting themselves up for a steep loss. Which is why I am now asking how low will NASDAQ go. I wonder if the new economy buyers give a thought to that. The last 3 or 4 trillion dollars of NASDAQ market cap were due only to P/E expansion. And basically the working people of America willingly trasferred that money from their savings into the hands of the charlatans who took them for a ride promising the infinite riches (and multiples) of the new economy. At some point (are we there yet ??) the gullibles will run out of money and the ones who got the money will lock in their gains by buying real assets. And who will be left to buy Yahoo at a P/E of 400 or whatever ? For an interesting chart look at mstr. From 333 to 20 in a month. That by itself does not surprise me. What is surprising is that it had rallies along the way sometimes going up 20 dollars a day. So who were the idiots buying it ? And when does their money run out ?
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