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

To: Satellite Mike who wrote (10977)	7/21/1998 1:42:00 AM
From: H. Lee Grove Jr.	Read Replies (1) \| Respond to of 164684

About Reality... Glenn and others, I've posted on my repulsion about what is really happening in this scam, but I just have to say it again--not because I'm losing, I'm not. In fact, every time Amazon makes a large move up I end up with additional puts--free--via a weighted straddle with an upper spread. It's not important that this thing comes down tomorrow, or Wednesday, or Thursday. But, I would truly like to see it come down, one, so I could cash out, and two, almost equally importantly, if not more so, so there is some sort of reckoning. I would say justice but that was given up at the IPO IMHO. Think about what has really happened here: The public investor has said, "OK, Mr. Bezos, here, here is two billion dollars; Kleiner Perkins, why don't you take a Billion also, and let's give Mr. Bezo's parents about half a billion. And if you guys know anybody else, see if they would like a few hundred million. Now, what do we investors want? Oh, just start a business and see if you can make it work. We're not particularly interested in assurances of success, we're just hoping.... Yes, the principals in this scam have been handed--personally--billions of dollars--for their own bank accounts--just to start a company with no assurance of success. If this doesn't indicate maximum bubble, then it is just becoming a little too much for me to take. I mean, the investors are giving the insiders here more money just for starting the company than the company could conceivably make in the next...oh...50 years. If it ever makes a dime. Like I have said in the past, the height of repugnance and injustice could actually occur if people continue to give Amazon such massive amounts of cash; they could dilute their own insignificance by acquiring enough good solid, reality based, asset backed companies. Absurd! What has begun here is the most absurd thing I have witnessed in my seven years on the Street: "Let's give these guys as much money as they want to buy whatever they want and try to assemble something profitable, and while we're at it we'll give them--personally--more money than the company could conceivably make in the next 50 years. Absolutely disgusted by the rank possibilities... I am now sticking my head out the window and yelling: "I'M TIRED OF IT AND I'M NOT GOING TO TAKE IT ANY MORE!" Lee