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

To: Bill Harmond who wrote (117330)	2/10/2001 4:18:52 PM
From: H James Morris	Respond to of 164684

>Is it proper to hold stocks through business cycles? Absolutely Bill, I've held held IBM ever since Louie Gerstner got there. >to that would fry your little mind. Let me tell you how small my little mind is. Every time I want to change my little mind, I have to leave my little closet, then go down to the beach, and change it there!

To: Bill Harmond who wrote (117330)	2/10/2001 4:50:34 PM
From: Robert Rose	Read Replies (1) \| Respond to of 164684

<Is it proper to hold stocks through business cycles?> Is it also proper to talk about risk??

To: Bill Harmond who wrote (117330)	2/11/2001 2:06:53 AM
From: manalagi	Read Replies (1) \| Respond to of 164684

William: which publication mentioned you as an astute investor in AOL circa early 1999?

To: Bill Harmond who wrote (117330)	2/11/2001 2:14:31 PM
From: Glenn D. Rudolph	Read Replies (3) \| Respond to of 164684

Bill, I know this is beat on Bill thread. So it is my turn to bring up a part of an article from the New York Times that has an interview with a person you highly respect. Maybe you could now tell me I was correct and you were wrong about Amazon<VVBG> February 11, 2001 By KENNETH N. GILPIN It was February 2000, and tulips were blooming in Tech Land. The Morgan Stanley Internet index stood at 105.20. A share of Amazon.com cost a bit more than $76, Cisco Systems traded at around $65.50 and eToys closed just south of $16. A year later, the tulips, as it were, are dead or dying. Morgan Stanley's Internet index is down nearly 75 percent. Two movie tickets cost more than a share of Amazon. Cisco, the Starship Enterprise, is hurting. And by the end of next month, eToys is likely to be out of business. Roger McNamee, a general partner at Integral Capital Partners, a firm that makes venture-capital and public investments in technology companies, took time last week to assess the damage and to talk about the future. Following are excerpts from the conversation. Q.A lot of people predicted that Internet mania would end. But what started it? A. My general sense of things is that the enthusiasm for the Internet caused a hormonal reaction in the investment community that ultimately had some very unfortunate side effects. People misinterpreted some early success stories at Amazon, Yahoo, eBay and America Online to think that it wasn't that hard to get customers. An awful lot of money was lost on that incorrect conclusion. In addition, people crafted a world view around the concept of "Internet time," which was all about urgency, and built business models in the investment world that resulted in a relaxation of standards with respect to due diligence, management standards, recruiting and investment judgment. nytimes.com