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Technology Stocks : Amazon.com, Inc. (AMZN)
AMZN 238.42-0.3%3:59 PM EST

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To: Henry Wolfond who wrote (7793)6/26/1998 4:53:00 PM
From: J.S.  Read Replies (3) of 164684
 
Well, Henry, we don't want to forget all the stock options that are
used to reduce expenses. They will increase the # of shares to at
least 75M in a few years. My guess is that the fully diluted count
is close 60M now.

"Quality of earnings" is a big concern among many. Charlie Munger,
of Warren Buffet fame, calls this practice "weak, corrupt, and
contemptible".

Note that Amazon.com's G&A was about 1.5 million last quarter.
The folks there are working for stock options. Why do you think
that their ads flood the financial pages and cnbc as well as
the YHOO message board. I would venture to guess that very few
of those posters could read most of Amazon.com's offering even if
they were inclined to do so.

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