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

To: Eric Wells who wrote (80155)	10/11/1999 3:41:00 AM
From: dbblg	Respond to of 164684

>>...other investments that bear the same risk. Yes, but the extent to which different parties are exposed to different kinds of risks is sometimes underappreciated, imo. Big caps have remained so stubbornly overvalued because fund managers are willing to pay a premium for stocks which are perceived to be liquid. The trend towards investing in the (market-cap weighted) S&P 500 index has exacerbated this, of course, along with a host of other factors best addressed by psychologists and sociologists. >>However, I think such constituencies have erred in the evaluation of risk in many stocks of late - I agree with you, but I think we are on opposite sides as to which stocks are mispriced with regard to medium-term (3 to 5 year) risk. I would respectfully suggest you go back and look at the discussion on YHOO in 1996, either on SI or in the sellside reports. The wildest bulls' projections for sustainable growth have been met, and then some. (By sustainable growth I basically mean growth within a context of a business model with positive operating leverage.) Since this is the AMZN thread -vbg- I should mention that I think AMZN's stock price doesn't adequately discount execution risk. It is certainly possible that it never will...