Crash and Burn 2001 Message Board

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Strategies & Market Trends : Crash and Burn 2001

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To: Dale Baker who started this subject	7/21/2001 12:39:01 PM
From: Dale Baker	Read Replies (2) of 207

We haven't talked about AMZN here yet - it's a mandatory candidate for the club, at least major tax-loss selling if not a total belly flop this year. The stock spent enough time over 15 this year that a late-2001 drop under 10 could cause major dumping in December. Liabilities are more than twice tangible assets. how fast will they burn $1.1 billion in cash and marketable securities? In 2000, they burned more than $300 million in operating losses plus another $100 million in interest. The interest figure has to climb higher in 2001 at junk bond rates. At 2x sales, AMZN looks pretty rich for a money-losing retailer whose basic operations clearly can't generate real cash. The January 7.5 puts at .85 are looking really interesting. Thoughts anyone?

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