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

To: Robert Rose who wrote (79074)	9/29/1999 8:27:00 PM
From: GST	Respond to of 164684

Robert: I do understand what you are saying, and I think it is a very difficult assessment to make. But I do not think the valuation of the net stocks is in the 2nd inning -- although their businesses are. This is the problem with investing in the nets -- the stock prices are in the seventh or eighth innings while their actual businesses and the competitive games they are playing are all in the second inning. Why pay seventh or eighth inning prices for second inning companies? Their values soared upwards because they got so far ahead of themselves -- which is where they still are. So they pull back to the fifth inning and then move back up to the sixth inning (AMZN today) -- so what? The money has already been made. And when we do get to the ninth inning -- guess what -- many, if not most, end up losers. Not a good long-term bet IMO, even though all you say is true about the future of the net -- that is what may be hard for net investors to get.