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Technology Stocks : Amazon.com, Inc. (AMZN)
AMZN 246.42-0.4%3:59 PM EST
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To: Skeeter Bug who wrote (139062)2/11/2002 10:41:28 PM
From: Bill Harmond  Read Replies (2) of 164684
 
No. I wouldn't have said "very unlikely" at all. I would have said 50% was quite likely. I said I thought the market was repricing and technically weak at the time, but I decided to stay invested anyway.

I had so much money 50% didn't matter; I felt I could shift gears and finally play the long-term game and not worry about every zig and zag. I wrote off a 50% decline in advance as a price for the luxury of setting up for this next cycle, which I believe will swamp the 90's.

There is only one or two here who know how big the numbers got, and mine are small compared to others.

The Fed screwed up. There is no doubt about it. They missed the productivity equation by a country mile, and then stayed tight during a constitutional crisis.

Greenspan has admitted as much. All you need to look at is the adjusted money supply rate of change during the past four years.
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