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

To: KeepItSimple who wrote (70320)	7/28/1999 2:17:00 PM
From: Robert Rose	Read Replies (2) \| Respond to of 164684

<How long before we just classify AMZN as a mutual fund? > And what would be so wrong with that? cmgi used to be an operating business too. And besides, the irs penalizes mutual funds, so cmgi needs to have operations, just as amzn probably would if it seriously chose the mutual fund route. Bezos is charting new territory. I'm trusting him.

To: KeepItSimple who wrote (70320)	7/28/1999 2:25:00 PM
From: Lizzie Tudor	Respond to of 164684

Well KIS, there was a similar argument re:Dell, that they made more money selling their own puts than from operations. Who cares, Dell stock was the biggest winner of the decade. BTW, why do you always go so far out of the money with your option plays? Yeah they are cheap but so risky and unless you get in the money quickly they don't move... I never go more than 5 pts otm....

To: KeepItSimple who wrote (70320)	7/28/1999 2:37:00 PM
From: Paul Viapiano	Respond to of 164684

<<<How long before we just classify AMZN as a mutual fund?>>> How long before we classify you as having lost your mojo? Oh, behave!

To: KeepItSimple who wrote (70320)	7/28/1999 2:49:00 PM
From: Bilow	Read Replies (1) \| Respond to of 164684

Hi KeepItSimple; As a mutual fund, AMZN would easily be the most over priced in the industry, and also the one with the worst liquidity problems regarding its investments. In addition, a mutual fund isn't allowed to have debt... Brings to mind the "mutual funds" of the late 20s. Modern mutual funds are at least partly a consequence of the disastrous ending to the 20s. People wanting a little diversity bought the stocks of companies that invested in other companies. Such companies could, and did, borrow money (like AMZN). The shares sold at prices far different, but generally higher, than the value of their assets (like AMZN). In essence, people were speculating in the speculators... When it all came to a bad end, the prices of these companies dropped rapidly. One of their responses was to begin buying up their own shares... Of course, since their stocks were trading at a huge multiple to book value, this merely caused the bottom to be that much lower (due to the lower real asset value at the bottom). AMZN is not a mutual fund, and hopefully there aren't a lot of people out there who think it is. As I write this, AMZN is hovering at a price just over the previous day's close. -- Carl