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

To: e. boolean who wrote (15284)	8/31/1998 8:03:00 AM
From: zax	Respond to of 164684

>No, it means you were wrong, and it took a once-in-a-decade worldwide equity collapse to give you a chance to get some losses back. :) Pray tell, Bill, what losses?

To: e. boolean who wrote (15284)	8/31/1998 8:04:00 AM
From: gizelle otero	Read Replies (1) \| Respond to of 164684

As a professional mutual fund manager (<5 million), I can tell you our portfolio has been long stocks like AMZN for a few years. However, we sold many of these "story" stocks with astronomical prices and no earnings weeks ago and are now short several high profile names (including AMZN, GCTY, DCLK to name a few). We will cover our shorts only if we see a reversal in advance/decline or other measures of market strength. We have also dumped many big names like DELL, INTC, KO, and MSFT which are trading at ridiculous P/Es in recent weeks and replaced them with defensive plays on interest rate declines and disinflation. We do not see this as a correction but as the first leg of a sustained bear market. We expect the market to decline by 30-50% over the next 12-18 months. Latin America, in particular, will become the story this week and next as George Soros, et .al are focusing their efforts on Mexico, Brazil, and other exporters of raw goods. These countries will be under the gun very soon and will face the devalue or die decision. Look for several Latin American countries to begin "facing the music" in September. Your best short plays might be in these countries. Hope this helps some of you see what institutions are doing and why cutting your loses in stocks like AMZN is essential to your financial health.