Nice to see you around, too.
I was astonished when I was unable to find anything other than a one-sentence, unemphatic, reference in the WSJ this morning to the run-up in AMZN. There is a story (section C, I think) implying a comparison of Internet stocks with electric comapny stocks in London over a hundred years ago: lots of speculation --quick boom and bust. But here we are making history and where's the news coverage?
AMZN is already up again on the Franfurt exchange, currently quoted as high as 143 Euros, or about $167 a share, over $500 pre-split. Maybe if it hadn't split, and had jumped to $500, the Journal would have noticed. That's up 2,000% in a year.
But that's nothing! Wait until it's up 5,000%--then it will be equal to the tulip bulbs. Come to think of it, with these stock splits, the stock is multiplying like bulbs, only faster.
AMZN has, however, done better than stock in the South Sea Company. That went from 129 pounds in early 1720 to over 1,000 pounds, but that's only an 800% increase. Then it went back to 129 pounds.
And it's a lot better than RCA in 1928-1929. It only went from 95 to 505--a measly 500% or so. Then it dropped to 18.
Thank God for AMZN. It does bring back the good old days. The wild and wooly 1620s. And putting Bill Clinton on trial is the next best thing to dunking a few witches, for pure fun on the side.
Well, how to deal with all this? Writing here under a pseudonym so that none of my friends will know what I am up to, I am going to do something positively scandalous. First, I am going to buy another put on AMZN. Second, noting Clinton's predicament, I think I may not respond to an e-mail from a certain person who just wrote. "I would love to hear from you."
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