Amazon.com, Inc. (AMZN) Message Board

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

AMZN 234.37

+0.2%

3:59 PM EST

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To: Glenn D. Rudolph who wrote (13829)	8/17/1998 5:13:00 PM
From: Bill Harmond	Read Replies (2) of 164684

The market is about supply and demand. Price levels in themselves don't have anything to do with ethics. Buying an expensive stock is no less ethical than buying an expensive piece of real estate, or a rare car. Was it unethical to buy AOL for $5 four years ago (probably as expensive on earnings as Amazon today), or Yahoo for $30 last year? Was it unethical for someone to sell Amazon for $147? Was it unethical for me to sell Amazon for 130, then buy it back at 121? Ethics deals with the inherently good and bad and with moral duty. Buying or selling a stock is outside the realm of ethics. You shorting a stock to some long doesn't qualify as unethical either. Caveat emptor...buyer beware. It's unethical to lie, or to steal, or to misguide someone you have a duty towards. If an analyst or company hides or misrepresents truth that he is duty-bound to reveal, then that is unethical. It's not unethical for Amazon to keep their business plans secret, or for them to become efficient enough to put mom and pop bookstores out of business.

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