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Technology Stocks : Amazon.com, Inc. (AMZN)
AMZN 244.41+0.6%Nov 7 9:30 AM EST
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To: Bill Harmond who wrote (104210)5/27/2000 1:37:00 AM
From: Sarmad Y. Hermiz  Read Replies (1) of 164684
 
>> It's the parable of the sower and his seeds. It's creative distruction. It's survival of the fitest. It's capitalism, Sarmad.
We can go through a whole list of companies, especially in technology, that have died away. That's the chance investors take.
<<

Ok the latter sentence is exactly what someone like Eric Wells would say. So now I go back to earlier post from you today: "It's all about ones vision of the future and how to discount it back to some present value."

What the just above sentence is missing is the modifier "adjusted for risk". So obviously as any intelligent person (and I mean that sincerely) you've seen stocks go to zero (my APM went to zero, rdrt is close, vmix is close, wdc got close but is doing better now).

If I put your two statements together, I have to temper the valuation of amzn with the chance that they may make $100m in profits, or they may go to zero. I and others think you're not allowing any adjustment for the zero part. What GST would say (I think he's in Malaysia this week and out of touch) is that what you've seen lately is the market making the zero adjustment for you.

I personally think there is another $trillion of zero adjustment in the nasdaq and it will take it down below 3000.
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