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

AMZN 229.60

+1.5%

Nov 25 3:59 PM EST

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To: Bill Harmond who wrote (143952)	7/19/2002 2:20:51 PM
From: GST	Read Replies (3) of 164684

Bill: I am not risk-averse -- I believe in understanding the risks you are taking and knowing how to manage them. As for the stocks you tend to favor, your poor record on individual picks and your inept operationalization of the concept of a "well-diversified portfolio of Internet stocks" would place you near the bottom of list of the world's savvy investors in my opinion (and those at the bottom of the list are investors without any savvy at all). If there is something to be learned from you it is this: it really helps to start with a pile of money at early retirement and enjoy stupendous dumb luck out of the gate as you did with Yahoo -- the problem is that dumb luck does not rule out the possibility that you will think your initial success was due to your investment brilliance. In that case, as we have seen, you will end up losing most, if not all, of what you had to begin with. The best thing that could happen to you financially is probably for you to come to the conclusion that you are not really a very good investor after all. Good luck.

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