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Technology Stocks : Amazon.com, Inc. (AMZN)
AMZN 239.12+0.4%Jan 16 9:30 AM EST

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To: H James Morris who wrote (17601)9/20/1998 1:42:00 PM
From: Derrick P.  Read Replies (1) of 164684
 
omD< People are willing to loan AMZN money and to buy and hold their stock
because they think AMZN has enough connections to be a long-term survivor. >
So far your right on the money. The question I keep asking myself is, other than
you, William and Mary Meeker. Who are these people?


Maybe the best case scenario is the Wall Street sees NZMA as some sort of Closed End Fund for internet companies. They give Bezos money and he goes around buying promising Internet companies. In that sense Amazon is not seen as a book retailer but as an option on the best of the Internet. But even in this light the stock price defies any logic, most closed end funds trade at a discount to NAV. A collection of insanely priced Internet companies does not seem to make them more valuable than the sum of the parts. Is Bezos that amazing of a guy that Wall Street would pay him such a premium to run a fund?

Derrick
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