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Technology Stocks : Amazon.com, Inc. (AMZN)
AMZN 235.04+0.5%2:09 PM EST
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To: H James Morris who wrote (53500)4/28/1999 6:30:00 PM
From: FR1  Read Replies (2) of 164684
 
Now Cnbc,is warning Internet auctions slowing down

Just a word on CNBC (and WSJ too). These guys are in the business of broadcasting advertisements. That's the only reason they are on TV. The people that pay their bills are the large investment businesses. It's no coincidence that they seem to parrot what the large brokerage businesses have to say.

Brokers make money because they know more than you.

They can analyze stocks better than you.

You need them.

The internet is poison to brokers because they can't analyze it.

The Internet makes brokers look stupid and lose customers because brokers are always saying people should stay away from AMZN, EBAY, ATHM, etc., etc. as these stocks go through the roof.

CNBC know this (so does WSJ). They also know who feeds them. So when they get the chance, they squawk the brokers favorite lines like a parrot: "Internets are crazy overvalued", "money is rotating to where there is value", "the bubble has burst", "there's a flight to quality", etc., etc.

I watched the CNBC guy report on AMZN. A journalist would point out the good and bad things. This guy leaned heavy on the bad things. He also told everybody that even the good AMZN numbers just barely met the whisper numbers. He said AMZN was "way off" in after hours trading.

Of course, no url was given for the official whisper numbers (or how they were arrived at). No dollar amount was given on how far off Amazon was and no attempt was made to see the bright side of the business.

You can see the heavy hand of the advertisers every time these guys speak.
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