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

AMZN 233.92

+0.3%

3:59 PM EST

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To: Sarmad Y. Hermiz who wrote (127720)	7/4/2001 9:34:03 AM
From: H James Morris	Read Replies (1) of 164684

Thanks for your comments on pwav. I hope it works out for you. At your current cost I wouldn't sell Ariba. Yeah, yeah I know Amerindo has got whacked too, but these guys are no dummies. When they have something to say, they always get my attention whether I agree with them or not. Oh! they own about 4 million shares of Amzn but have been critical of the company this last year. thestreet.com >Fitzmaurice: We own Ariba. We've suffered through an enormous decline in Ariba, but we continue to think that B2B is an extraordinary opportunity and that Ariba's a company that is well situated. The contraction in spending by IT departments has hurt all of the companies in the B2B infrastructure software space. Ariba was growing at 100 miles an hour, and when it hit the wall it looked like a large train wreck. Ariba is a company ... we continue to care about. Our philosophy says that out of 10 stocks, there are going to be two or three large winners. You've got to let your winners run. The natural corollary is you've got to allow your losers to fail. So, do we know yet whether Ariba is going to go from 5 back to 50 or 100? No. Are we willing to stand around and take up the pain? Yeah, for the time being, we're willing to stand around and take the pain. Usually the amount of time that we're willing to take the pain has been a lot longer than other investors.

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