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

To: Bill Harmond who wrote (101087)	4/15/2000 8:55:00 PM
From: GST	Read Replies (1) \| Respond to of 164684

William: <because is way to broad a label> I believe this is one of the lessons of recent events. It is a tough one to learn -- it applies to all of us (well, most of us -- all of us is too broad a category [just kidding]) But seriously, quick conclusions and broad categories indicate intellectual laziness. To the extent that this laziness is out there, perhaps it explains why markets go up so much one day and down so much the next.

To: Bill Harmond who wrote (101087)	4/16/2000 11:54:00 AM
From: Sam Citron	Read Replies (2) \| Respond to of 164684

>>Tech stock holders have become complacent about risk It is true that this is a generalization. I meant it in a sense that we have all become somewhat desensitized to risk, mainly because of the longevity of the bull market and the volatility that we have experienced in the recent past, including 1987. My own sentiment indicators flash red when I see intelligent investors like yourself who have no cash reserves, very little industry diversification, little or no diversification across asset classes, and who consider themselves buy and hold investors in spite of portfolio turnover rates that exceed 100%. Please don't take this the wrong way, William. Nothing speaks louder than success. You have been far more successful than me in investing this decade, in part because you have taken greater risks than I have. But I would hate to see you teach the thread a painful lesson in risk management. If we can get through this bump in the road, hopefully we can learn something from the experience other than mere bravado. Sam