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Technology Stocks : Amazon.com, Inc. (AMZN) -- Ignore unavailable to you. Want to Upgrade?

To: Sarmad Y. Hermiz who wrote (66223)	7/4/1999 9:09:00 PM
From: Robert Rose	Respond to of 164687

Sarmad, I am glad you feel you are doing well with your value investing approach technology investments. However, I offer you this caveat. When heavily-followed stocks go in or out of favor on the street, why do you think that happens? Granted, there are sell-side politics that go on (courting new business, keeping past and current underwriting customers happy, and all that), but these analysts also put their jobs on the line with their recommendations. Look what happened to inet bear Cohen at Merrill, for goodness sake. I do believe that value investing can work with little-followed small companies out of the limelight, but even that requires a lot of expertise, time and effort on the individual investor's part. Otherwise, I am willing to allow that the professional analyst has greater experience, knowledge, time, and motivation to properly research stocks than do I. Thus, when their consensus is thumbs up on cisco and thumbs down on coms (for example), even at these relative valuations, I am inclined to accept those analyst recommendations at face value.