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

AMZN 220.66

+1.6%

Nov 21 9:30 AM EST

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To: Glenn D. Rudolph who wrote (24560)	11/5/1998 12:44:00 PM
From: Robert Rose	Read Replies (1) of 164684

<My stores are having the best year ever and they even turn a profit. I do not have the top line as does AMZN but Ido have a far better bottom line. AMZN's negative tangible book value far exceeds my networth. That is scary.> Glenn, congrats on your success this year. But don't you think it's possible that your goals for your business differ from Bezos' goals for his? If your goal was to become the WalMart of the Web, don't you think that you might have to invest such that you would post growing losses and negative tangible book value (I'm trusting you on this) for years before things turn around? Clearly, Wall Street and I believe that Bezos knows what he is doing. What separates companies such as aol, yahoo, ebay and amzn from the second and lower tiers of the internet stock spectrum? The quality of their management. Yes, it is something of an article of faith to put amzn in this category at this time, just as it is something of an article of faith for you to focus on the existing financials of amzn and refuse to consider that the foundation for something far greater is being laid before your very eyes.

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