Who's right and who's wrong. Obviously, amazon and others have opened up a whole new frontier and they are getting probably more than their just rewards. But, they are so dynamic and exciting, beating all expectations, leaving people wondering when it will stop.
I think they are over priced, but then my investing has generally missed all of these great growth companies, so in the end I think my style is wrong, not theirs. But hind sight is so cruel.
Here's the opinion of another loser.
08:57 ET Amazon.com (AMZN) 289: Merrill Lynch analyst Jonathan Cohen doing his best Thomas Kurlak impression. According to CNBC, analyst expected to tell clients on 10:00 ET conference call that Amazon.com is only worth $50 per share in his eyes. AMZN beginning to tumble in pre-market. Stock currently indicated 16 pts lower.
09:04 ET Amazon.com (AMZN): --Update-- A search of our Archives reveals that Jonathan Cohen initiated coverage of stock with a "reduce" rating on September 1, when AMZN was trading at 83 3/4. Based on yesterday's close, AMZN shares have advanced 245% since then.
08:38 ET S3 Inc. (SIII) 5 1/32: Manufacturer of video accelerators announced a long-term agreement with Intel Corp. which includes a 10-year cross-license agreement for all S3 and Intel patents for development of certain semiconductor products, a bus license for current and future Intel general purpose processors, and the selection of S3 as an Intel AGP 4X validation partner. Issue indicated 1 3/8 higher.
08:35 ET Market
Wasn't this a $40 stock? Didn't the market for the graphics chip fall apart after having so much apparent success? Is this a commodity product or has S3 got some new found advantage? A blessing from Intel?
How about Micron? That was the great tulip stock of a few years ago and now I see them trading over $50 again. Has something really changed here, or are people repeating an old story?
While it seems like easy pickings to short some of these high flyers, I wonder if it isn't better just looking for positive investments? It may not be true, but Lawrence Kam seems to be so focused on how companies have gone wrong, he never mentions companies that go right. He also misses out on the emotion which drives stock price well ahead of fundamentals.
I'd like to see his ability bringing light on really great companies. A stock could go down 100% if you get a short exactly right, but a well placed investment could go up %1000 percent. I'd really love to hear a list of your favorite 10 baggers Mr. Kam.
And Mr. Kuznet, you were such a positron before you got caught in the magnetic field of APM. Lets hope you get back soon.
Regards,
Mark |
