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Technology Stocks : Amazon.com, Inc. (AMZN)
AMZN 228.59+0.8%1:54 PM EST
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To: Mark Fowler who wrote (12240)8/2/1998 2:25:00 PM
From: Rob S.  Read Replies (2) of 164684
 
It is easy to throw out platitudes that pass as an understanding of the market. Peter Lynch doesn't invest in Amazon.com and other inet stocks. He has much more sense than chase after fantasies. Lynch seldom, if ever, invests in companies with no record for generating profits. The key axiom you pointed out:

<"Peter Lynch, who may be one of the greatest investors of all-time, is famous for saying -- and I may be mangling this a bit -- that there is no correlation between great companies and stock prices in the short term and there is a 100 percent correlation in the long-term.">

Good companies are determined by such things as profit. A start-up company with very little tract records does not equate to a good long-term investment. Whether Amazon.com is a good long-term investment will be determined when they start to prove their long-term business plan. That proof is at least a couple years away. For now it is a hope and a dream that their plan will be a success. The current price suggests that the money is already in the bank. All Amazon.com speculators can be certain of is that the VCs and insiders will get rich off of stockholders investments.

Amazon.com is not an investment - it is a speculation only suited for the most risk tolerant investors.
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