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

To: KeepItSimple who wrote (79417)	10/3/1999 1:32:00 AM
From: dbblg	Read Replies (1) \| Respond to of 164684

1. He's not calling for YHOO or AMZN to decline by 75%. UBID will probably decline by 75%, but assuming you have 10-20% of your portfolio split among 20 stocks, you would be able to handle the occasional blowup. 2. As far as I know, he has been consistent in suggesting that investors allocate a small portion of their capital to the net stocks. If you can find an earlier quote suggesting otherwise, please share it. 3. I don't have any illusions about sell-side analysts. Most are honest, but also useless. If serious, long-term money could be made by following broker upgrades/downgrades, the analysts wouldn't be so (relatively!) poorly paid. The best analysts nail major trends and help investors figure out how to capitalize on them. If you had listened to Charlie Maxwell when he said oil was grossly underpriced (and that most of American industry was going to get pounded when the price corrected) in the late 1960s OR to Jack Grubman when he suggested AT&T's competitors weren't doomed to oblivion OR Tom Kurlak when he said semiconductor companies were entering a new era and deserved richer multiples than they were traditionally granted OR Chuck Phillips on client-server OR Mary Meeker on online services and the web, and then headed out and done a little work, well, your butler would be typing your diatribes on SI. Every single one of those analysts ultimately made many, many bad buy/sell/hold calls. I imagine every one helped bring some real dogs to market, and later slapped buys on them with a straight face. None of that would matter to a client who took the trouble to understand an analyst's long term view and its relevance to a given investment universe. Cheers, Ganesh