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Strategies & Market Trends : Value Investing

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To: Terry Maynard who wrote (5679)	1/10/1999 2:00:00 PM
From: peter michaelson	Read Replies (2) of 78717

Amazon.... I have lost a ton of money shorting Amazon since June. I was up some in September. Last week I finally gave up. When I shorted at $32 split adjusted I said I can hang on even if this ridiculous stock triples. I gave up when it had quintupled. AMZN's price has risen 20-fold this year ... another nine-fold in 15 years (per the Cramer piece) is possible, yes. Is another nine-fold this year possible? I swear to God, I do not know. The concepts around which I structure my perceptions have been shattered and none remain at the moment. Today AMZN's market cap is greater than Norway's - tomorrow ??? Greater than Jamaica? Japan? I write disjointedly to demonstrate how shattering these events can be to one's own good sense. I agree about buying LEAP puts, high-priced though they may be. From your guys' readings, what historical episode most closely approximates the internet mania? Peter If every day Amazon rise by 33%, re Blodgett, then by the end of the year all the money in the world will be in margin accounts to support AMZN holdings.

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