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

AMZN 228.12

+0.3%

1:34 PM EST

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To: GST who wrote (37473)	1/28/1999 5:26:00 PM
From: Randy Ellingson	Read Replies (2) of 164684

GST- I heard what AG said. I wish I had it verbatim, but among his points were: 1. A quick joke "That's investing?" before the questioner could even get the question started. 2. There are real fundamentals at work if one looks at the field of stocks as a whole; the changes that Internet technology is bringing merit some real increases in value. 3. The majority of "Internet" companies will not shine to merit current valuations. 4. Investors are willing to place their money at (did he imply inappropriately?) higher risk for the possibility of high-returns. 5. There's a certain amount of hype, as one one expect in this situation. 6. The free market system is working well and properly when money backs companies in spite of them not yet showing profitability. (Note, that doesn't mean that these companies will all be profitable, but just that this is not a horrible aspect of today' market.) There's something positive in there. He clearly didn't say "all Internet stocks are valued impossibly high". Randy

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