Walter, if you think you can really separate the brokers from the companies, you must not have listened to any 'net stock analyst conference calls. The company executives spoon feed the numbers to the analysts and spoon feed all the catch phrases/sound bites/jargon to them as well. The analyst reports, at least on the high flying concept stocks, out of houses like Robby Stephens mostly just regurgitate the company's "story" as told in the conference calls. In the case of AMZN, whether Bezos has anything to do with it or not, the distorted reasoning that attempts to justify its valuation frequently comes right out of company executives. The whole "EBITDMA" nonsense came right out of the mouth of Joy Covey, the CFO, at an investment conference.
She, BTW, sold 30,000 shares (about $1.9 mil at the time) on Feb 3&4. Not that she's not entitled to the cash, but I don't think she owned much more than that, if any. Hardly says she thought it was fairly valued. I'll have to check back to see when she made the "EBITDMA" comments.
Regards,
Bob
PS: None of the stocks I own are hyped. Sometimes I almost wish they were, but if they were I'd probably have less faith in management as a result and get chicken and sell long before the hype run was over. |
