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Technology Stocks : Amazon.com, Inc. (AMZN)
AMZN 244.41+0.5%3:59 PM EST
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To: Bill Harmond who wrote (104200)5/26/2000 11:39:00 PM
From: Sarmad Y. Hermiz  Read Replies (3) of 164684
 
>> Tell me this, Sarmad, is a long-term investor a thief like you say a momentum investor is?

No, William. Neither is a momentum investor who doesn't pretend otherwise. I am actually amazed that you gave up on the selling part of the game. If you don't mind me quoting KIS again, I'll say the ONLY profits made in the new economy are made from the sale of stock. You're holding for what ? Did EFAX have a snowball's chance in hell of making a profit ? Or IVIL, or the various idiocies that are promoted in the broker conferences ? I'll also say that there will be a net transfer of wealth from honest working people to dotcom VC's and brokers who know that their schemes will never make a penny of profit. These schemes will go on with or without my or your participation. I think they are designed strictly to enrich their promoters through the sale of stock, and never with business profits. I consider that dishonest. I wish for its early demise. I hope the people who participate in it lose their shirt. There is nothing to admire in Mary Meeker or Henry Blodget. Their mission it seems is to promote a scam. To the extent that a person tries to take advantage of their recommendations, they help the scam continue. I'd rather stay away.
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