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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: Oeconomicus who wrote (16941)	9/11/1998 9:19:00 PM
From: llamaphlegm	Read Replies (3) of 164684

Ok folks: Enough silliness. Bezos is NOT repeat NOT in it for the long term. he technically holds onto his shares and arranges a total return swap with Morgan Stanley (or any other Inv banker). He agrees to give to MSDW the total return on his AMZN holdings and MSDW agrees to give him the total return (capital gains plus dividends) on some index -- we can just say the s&p 500 minus of course a nice fat transaction fee. MSDW, no fools they, just hedges it's amzn position by shorting an equal amount. This is quite common for insiders with large stock holding who want to get out of overconcentrated exposure to their own company. Why doesn't everyone do this? (ie covey et al) Probably because to make it financially worthwhile, you must swap a fairly large chunk of stock, otherwise Transaction costs help kill you. Do we know that bezos has done this? No. He need not report. Is it probably a better than 50-50 shot? Well he worked for years as a banker and at a hedge fund so you be the judge. LP

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