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

AMZN 247.35

+0.4%

Jan 9 9:30 AM EST

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To: Mark Fowler who wrote (112400)	12/5/2000 12:21:08 AM
From: H James Morris	Read Replies (1) of 164684

Mark,One of the things that I have tried to point out in the Rap over time is that there is a fair amount of risk to investing. One of my complaints of "new-era people," a.k.a. bubbleonians, was the fact that they seemed to think the stock market was without risk, treated it as such and behaved accordingly by leveraging themselves up. They owned ridiculously priced securities and lived beyond their means on top of it. A regular reader sent me the following little metaphor about the importance of respecting the market, having a healthy concern about losing one's money and paying attention to how much risk one is taking: They are learning that the market is like a mountain, it doesn't care if you make it to the top or you freeze to death. You respect the mountain, not because it respects you. But because it doesn't know you exist and won't bend to your wishes. And the market is exactly the same way. It doesn't know you and doesn't care what you paid for a price. It is going to do what it is going to do and you have to learn to live with it.

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