Amazon.com, Inc. (AMZN) Message Board

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

AMZN 230.96

-1.6%

10:35 AM EST

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To: cellhigh who wrote (2683)	4/2/1998 9:42:00 AM
From: William T. Katz	Read Replies (2) of 164684

Ronald, I classify the people driving up the internet stocks into those that are investing purely on TA/momentum (chart-driven, the smart ones it seems these days) and the "idiots" who think AMZN/AOL is fundamentally worth more than the current price and may be buying into AMZN not based on any momentum (or short-squeeze) philosophy. If there was some law saying you must hold stock purchases for 18 months, how high do you think the AMZN stock price would be? The "idiots" are the investors that say they are investing because Amazon.com is a great company. Then you ask them whether they think it's overvalued and they stare at you and have no idea about valuation, revenue, future estimates, margins, etc. They just invest based on the next great thing. Clearly I'm not too smart or I would have sensed how many idiots were out there and invested along with them. But come back and talk to me a year from now to see how my shorts are doing. Have fun counting your paper money. I'm sure you will be smart enough to know when to take some cookies off the table.

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