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

To: GST who wrote (78188)	9/24/1999 10:43:00 AM
From: John Donahoe	Read Replies (2) \| Respond to of 164684

RE: If the market is going to break it will be the companies like MSFT and GE that will be revalued. Net stocks will get crushed if MSFT and GE get marked down in price significantly. The market may or may not break. I can't guess. That's because the "market" is governed by mob psychology. Trying to figure what the mob will do next is very difficult. It's irrational and easily agitated. But in the long run the mob's influence is less pronounced and the influence of cooler heads increases. The reason MSFT is valued so highly is that it's a clear leader in the new economy. Leaders in the new economy get assigned a higher multiple than laggards. That's where traditional valuation techniques breakdown. Note to HJ: My use of the word "mob" should not be construed as referring to the Mafia. :^)