Roger's 1998 Short Picks Message Board

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Strategies & Market Trends : Roger's 1998 Short Picks

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To: Peter V who wrote (8834)	5/15/1998 4:04:00 PM
From: BelowTheCrowd	Read Replies (1) of 18691

> AMZN trades at a P/E of 9000, and on and on. Sorry, "rational" not spoken here. < NOT true. AMZN's earnings are negative. Their current PE is infinite. If you believe their discussion of what they "will" earn, then they may be trading at a 9000 PE relative to the earnings in 1999, or 2000, or whatever... Incidentally, at the H&Q Tech conference a few weeks ago, the spokesperson for AMZN summed up her presentation quite interestingly. She thanked the assembled analysts for their support of the company as it pursued it's strategy of growing market share at the expense of profits. THEN she thanked them in advance for their continued support as they continue to pursue that strategy for the rest of the year and into 1999. They used to say that they would be profitable in 1999! It sounded to me like they were backing off on that. Naturally, there was a major round of applause in response to the "thanks." I guess analysts get off on that kind of thing. Still dazzled and amazed... mg

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