Amazon.com, Inc. (AMZN) Message Board

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

AMZN 234.27

-1.4%

9:31 AM EST

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To: H James Morris who wrote (119570)	3/7/2001 1:08:05 PM
From: Glenn D. Rudolph	Read Replies (3) of 164684

Glenn, that post of mine was tacky. I apologize to you for it. Jim, Your post was not really tacky. I knew what you meant and it was accurate although a bit tongue in cheek. Sometimes it is good to look back at these situations and look at who benefited. I lost my sense of humor (this is my personal problem) regarding Amazon. You and I were on the incorrect side. The saving grace is we both learned and we both lived financially to play again. My anger stems from the number of people of which I am aware that were literally financially ruined by this firm. I really did receive a lot of PMs here from people that had been short, borrowed money, etc. and could not recover. Some had their marriage break up due to this and other problems. They are no longer even posting:-( I can't say these people were any "dumber" than we. You and I did a good job in losing capital before we changed plans. These people did not know the quality of hype machine bezos was and neither did you or I initially. This firm was never run as a business. It was run entirely on press releases to cause short squeezes. You, I am certain recall the days when there were a press release literally every day. I know many firms do issue press releases to prop up their stock and possibly some of these releases are of marginal value. I off hand can't think of any that sunk to the level of Amazon and ruined so many working class people financially. It is my hope that no one like Bezos ever gets access to the kind of capital given to Amazon again. Amazon was an extreme in terms of movements and a lot of that was due to bezos great ability to mislead the herd. Bezos, in my opinion, knew fundamentals were not doing well. He also was aware a lot of common people were short the stock. It never bothered him or did not seem to bother him to make a press release saying they would have a press release. He had to know that would hurt a ton of people. I admit to being angry at him for those that no longer have a life style anywhere close to what they once had. I am not as concerned about those that bought high and have a loss. The loss from the long side is limited to the capital one puts in unless one was on a lot of margen. Even on a lot of margin the loss would not be 1000%. Also, sadly there really are a lot of small independent good business people that no longer have their business. They did not have the resources nor was/is there a plan to compete against a firm that willing will sell product at a loss for 5 years. Five years is a very long time. Glenn

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