Gene - What was amazing to me was how completely sure the writers were that they could just claim Amazon will fail. This is journalism? There's no point in my commenting on the story; it's all been said here before. I think Barrons should agree to a public tar and feathering in the lobby of Amazon headquarters, the next time Amazon hits a new high. To be broadcast live on the web!
Then Barrons puts Carl Icann, corporate raider (scavenger) on the cover saying the market is in trouble. I don't care what you think of Icann, he's not a stock picker. That's not what he does. He's a rag man. Who cares what he thinks? His grand idea? Buy a couple of bankrupt oil companies, wasn't it?
The established Wall Street folks are scared, because 20% of trades are on the internet, and demand is forcing the markets to have longer hours, and they are losing their very comfortable monopoly on the claim to financial prowiss (which is why I like the Motley's, whether one agrees w/ them or not). It's a world where really bright gearheads can create wealth far beyond anything Wall Street imagined. A hundred years ago Ebenizer Scrooge could keep Bob Crachet under control; now Crachet has direct access to capital, and oh by the way, he knows the business better than Scrooge and he's smarter to boot.
Worth magazine has a story that Schwab is gonna be in big trouble because Merril is going into on-line trading ('Stocks to Avoid.') Yeah. They've done a great job competing w/ Schwab. That's why they're running to get Chase to hug their butt. Well, at least Worth was even handed, having a positive Schwab story...and a negative Gabelli story, which I really love!
JMHO. ;->
BTW, I'm looking at MSFT calls for Tuesday morning purchase. |
