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

AMZN 229.55

+0.2%

Dec 5 9:30 AM EST

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To: John May who wrote (4403)	5/16/1998 7:52:00 PM
From: marion (Hijacked)	Read Replies (4) of 164684

This was posted on The Motley Fool board and I thought it was good, so I thought I would "do a Candlestick" and post it here. Subject: Mania Date: Sat, May 16, 1998 19:19 EDT From: MF Equity Message-id: <1998051623193600.TAA29545@ladder01.news.aol.com> This mania reminds me exactly of IOMG in the spring of 1996. I first bought IOMG in January 1995, and was one of the first to request that the Fool set up a board. We all know the saga. Great growth story, and a stock that got way ahead of itself due to a short squeeze. I can still recall MF Chiros posting a beautiful analysis "demonstrating" that "fair value" of IOMG was over $70 a share. With the "assumptions" that things would work as planned. Of course they didn't. Because IOMg sold a low margin product susceptible to competition. Sound familiar? This idea that valuation doesn't matter as long as there is the faint possibility that hopes and dreams might somebody be realized is ludicrous. Downright scary and stupid actually. Investing in a common stock shouldn't be a love affair. Find a woman if you want to love something, not this painted whore of a stock. Valuation does matter, and those who argue they won't sell because they are "long term investors" are drinking the wrong kind of Kool-aide. MIKE (no longer affiliated with the Motley Fool)

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